Posted by Greetings from Classic Associates ! Tuticorin
Haven’t filed your Income Tax Return yet? Be ready to pay higher TDS from July 1, 2021.
Higher TDS will be deducted under following conditions:
a) Individual has not filed income tax return in the previous two financial years for which due date has expired as per section 139(1) of the Income-tax Act, 1961
b) Sum of TDS and TCS in each of the financial years is Rs 50,000 or more
This rule will come into effect from July 1, 2021.
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