Declaration Form for not imposing TDS rate under section 206AB/206CCA


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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.

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

To
ABC Company
……………………..,
………………………….,
…………………………..

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

With reference to above we declare as under:-

1. Name of the Individual / Entity: ……………………..

2. PAN of the Individual / Entity: ……………………….

3. ITR’s filed for the Financial Years:

 

FY – 2018-19                             Yes                                    No

If yes, mention ITR acknowledgement Number –

FY – 2019-20                            Yes                                    No

If yes, mention ITR acknowledgement Number –

5. If ITR’s for both the FY 2018-19 and 2019-20 are not filed:

whether aggregate TDS and TCS was Rs. 50,000/- or more

 

FY – 2018-19                              Yes                                   No

FY – 2019-20                             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 ………………………. for any interest or any penal consequences.

 

For XYZ Private Limited
…………………………………

(Signature)

(Name)

(Designation)


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