Section 206AB - Special provision for TDS for Non-filers of return

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pplicability and Scope * Section 206AB applies to all payments or credits subject to TDS under Chapter XVIIB, with specific exclusions, on any sum or income or amount paid, or payable or credited, by a person to a specified person. * The excluded sections predominantly relate to salary (192), provident fund withdrawals (192A), lottery winnings (194B),Winnings from online games (Secti....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ate could be even higher depending on the underlying TDS provision. Interplay with Section 206AA [ Sub-Section (2) ] * section 206AA mandates higher TDS rates where the deductee fails to furnish a valid PAN. Section 206AB(2) provides that if both Section 206AB and section 206AA apply, the deductor must deduct tax at the higher of the rates prescribed under both sections. Definition of "Specifi....