As per Finance Act’21, two new sections have been introduced with effect from 01-Jul-21 for non-filer 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 has 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.
GST No. and PAN No. is Mandatory in India.
Details of Vendor
Bank Details