Confusion persists on how new TDS rules will be implemented4 min read . Updated: 15 Feb 2021, 05:59 AM IST
Tax department should come up with a platform that can help deductors comply with new provisions
In order to penalize those who don’t file income tax returns (ITRs) despite being liable to, the government has proposed new provisions in Union Budget 2021. Under the proposed Section 206AB, in cases where a person is required to deduct (deductor) tax deducted at source (TDS) while making a payment to another person, he will be liable to deduct TDS at a higher rate in case the person receiving the payment (deductee) has not filed ITR for the previous two years.
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