Applicability date 01.07.2021
A person who has Not filed Income Tax returns of immediately preceding TWO financial years within time limit prescribed u/s 139(1) and aggregate of TDS deducted and TCS collected in his case is Rs.50,000 or more in each of the two preceding years
Rate of deduction of TDS under section 206AB
TDS under section 206AB will be deducted at higher of the following rates-
Twice the rate as specified under the relevant provision of the Income Tax Act; or
Twice the rate/ rates in force; or
At the rate of 5%.
Section 206AB do not apply to the following
Non-Resident who does not have a PE ( Permanent Establishment) in India
Section 192: TDS on Salary
Section 192A: TDS on withdrawal from EPF
Section 194B: TDS on winning from lotteries, crossword puzzles, etc
Section 194BB: TDS on winning from racehorses
Section 194LBC: TDS on income in respect of investment in Securitization Trust
Section 194N: TDS on cash withdrawal
Section 206AB Declaration format
For Individuals
For Non Individuals
Note
If both the provisions of section 206AA and section 206AB are applicable, that is, deductee has neither furnished his PAN to the deductor nor has he furnished his return of income for the specified periods, the tax shall be deducted at the rates provided in section 206AA or section 206AB, whichever is higher