News Article regarding the circular issued by the Central Board of Direct Taxes (CBDT).
Dear all,
Your association SIMA is forwarding herewith a News Article, dated 18/05/2022, published on the Taxscan website, regarding the circular issued by the Central Board of Direct Taxes (CBDT) prescribing the rules to follow to use the Functionality Developed to ease compliance for Tax Deductors/collector as mandated under Section 206AB and Section 206CCA of the Income-tax Act, 1961.
As per the news articles, Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income tax Act 1961 which took effect from July 01, 2021. These sections mandated tax deduction (section 206AB) or tax collection (section 206CCA) at higher rate in case of certain non filers (specified persons) with respect to tax deductions (other than under sections 192, 192A, 1948, 19488, 194LBC and 194N) and tax collections.
To read full news article, PLEASE CLICK HERE.
Thanking You,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
