Compliance check for sections 206ab & 206cca
WebJun 23, 2024 · The Income-tax Department has released a new functionality “ Compliance Check for Section 206AB & 206CCA ” on the Reporting Portal which will be available to all the tax deductors and tax collectors to check the income-tax return filing status and to verify if a person is a “Specified Person” as defined in Section 206AB & 206CCA or not. The … WebJul 27, 2024 · If sections 206AB and 206CCA are applicable to a tax-payer, the rate of TDS or TCS will be twice the original rate or 5%, whichever is higher. Also, if the ‘specified person’ fails to furnish PAN, …
Compliance check for sections 206ab & 206cca
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WebJun 27, 2024 · Both the sections 206AB(TDS) and 206CCA (TCS) are applicable with effect from 1st July, 2024 2. ... To facilitate the same, the CBDT has issued a new … WebNew sections 206AB & 206CCA are inserted in finance act which are applicable form 1 July 2024, which requires to deduct double amount of TDS or TCS on specif...
WebJun 23, 2024 · Accordingly, the CBDT on Tuesday clarified that its new functionality — Compliance Check for Sections 206AB & 206CCA — is operational and would reduce the compliance burden by putting out the ... WebJun 21, 2024 · This can lead to extra compliance burden on such tax deductors or tax collectors. To ease this compliance burden the Central Board of Direct Taxes is issuing a new functionality “Compliance Check for Sections 206AB & 206CCA”. This functionality is made available through reporting portal of the Income-tax Department.
WebJun 23, 2024 · To access the “Compliance Check for Section 206AB & 206CCA” functionality, tax deductors/ collectors need to register through TAN on the Reporting … WebJun 22, 2024 · To access the “Compliance Check for Section 206AB & 206CCA” functionality, tax deductors/ collectors need to register through TAN on the Reporting …
WebJun 27, 2024 · Both the sections 206AB(TDS) and 206CCA (TCS) are applicable with effect from 1st July, 2024 2. ... To facilitate the same, the CBDT has issued a new functionality of "Compliance Check for ...
WebJun 21, 2024 · Sujit Talukder Monday, June 21, 2024. CBDT issues Circular No. 11 of 2024 dated 21.06.2024 on implementation of section 206AB and section 206CCA with respect to higher tax deduction and collection … sharm el sheikh all inclusive dealsWebsection 206AB and 206CCA of the Act through the functionality "Compliance Check for Section 206AB& 206CCA". 3. Income Tax Department has released a new functionality … population of malvern arWebOct 19, 2024 · In light of the foregoing, the Income Tax Department has implemented a new functionality called ‘Compliance Checks for Sections 206AB and 206CCA,’ which allows tax deductors and collectors to determine if a person is a ‘Specified Person’ as defined by sections 206AB and 206CCA. The Income-tax Department’s Reporting Portal provides ... population of malvern hills districtWebCompliance Checks. A compliance check is a determination of whether the contractor has maintained records consistent with Executive Order 11246, Section 503 of the … sharm el sheikh areasWebcompliance burden the Central Board of Direct Taxes is issuing a new functionality "Compliance Check for Sections 206AB & 206CCA". This functionality is made … population of malvern paWebJun 26, 2024 · Section 206AB and 206CCA was introduced in Finance Act 2024 and is applicable from 1st July 2024.This video is quick one to understand the process of checkin... sharm el sheikh armyWebMay 31, 2024 · Section 206AB and 206CCA – Compliance Check Functionality of Income Tax. The income tax act has laid down certain provisions to tap the non-filers of return of income. Section 206AB and 206CCA of the income tax act are prominent in this regard. Section 206AB states that in respect of amounts paid or payable to specified persons, … sharm el sheikh a novembre