As the Finance Act, 2021 comes into force with Presidential assent on 28th March 2021. In this Act, two new sections have been introduced with effect from 01st July 2021 for non-filers of Income Tax Return.

As per these sections (206AB & 206CCA), the rate of TDS/TCS shall be at the double of the normal rate or 5%, whichever is higher for all the payments to be made to the vendors who have not filed Income Tax Return for the immediately two previous years and total TDS/TCS deducted for each year was Rs. 50,000/- or more

From

CFO/ The Manager/ The Concerned Person
Accounts Team
M/s XYZ Company.
India

Declaration Form for not imposing TDS rate as per sec 206AB/206CCA of the Income Tax Act

To M/s XYZ Company,
India

1. Name of the entity:

2. Pan of the entity:

3. ITRs filed for the financial year:

2018-19                                                        YES                             NO

If Yes, Mention ITR Acknowledgement Number

2019-20                                                        YES                             NO

If Yes, Mention ITR Acknowledgement Number

4. Whether total TDS/TCS for the financial year 2018-19 and 2019-20 was Rs.50,000 or more:

YES                             NO

I Hereby declare that I am duly authorized to give this declaration and the information stated above is true to the best of my knowledge and belief. If there is any misdeclaration, I undertake to indemnify XYZ Company, India; for any interest or any penal consequences.

Name
Designation
For M/s ABC Company
India

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