Section 206AB & higher TDS & TCS from July 1 2021

If a taxpayer has not filed TDS in the last two years and aggregate of TDS exceeds Rs 50,000 in each year, the Income Tax department will charge more while filing the income tax returns (ITR) from July 1. The rate of TDS will be either twice the rate specified under the relevant section or provision or five per cent, whichever is higher. To check whether a taxpayer will be eligible to pay TDS at higher rates from next month, the Income Tax department has recently launched a new functionality on the tax portal.

More details here

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