Hi,
Who are to be affected by higher rates under section 206AB and 206CCA? Who is excluded from from section 206AB?
Hi,
Who are to be affected by higher rates under section 206AB and 206CCA? Who is excluded from from section 206AB?
Section 206AB provides a tax deduction at source (TDS) at rates higher than those prescribed in the Act while making payments or collections to those who have not filed their income tax return.
Similarly, section 206CCA provides a collection of tax at source (TCS) on amounts received from the buyers at rates higher than specified in the Act.
The higher TDS rates are applicable on the deductees:
The exclusion from the section 206AB are-
The provisions of deduction of TDS at higher rate shall not be applicable on the following sections: