Higher TDS if return not filed
The Finance Act 2021 introduced new TDS/TCS sections which are applicable w.e.f. 1st July 2021. They prescribe a HIGHER WITHHOLDING RATE FOR NON-FILERS OF TAX RETURNS. Relevant provisions are: Section 206AB – Higher rate of TDS for non-filers of ITR Deductee has not filed ITR of last 2 previous years and time limit to file …