24 September 2021
Specified person means a person who satisfies both the following conditions: –
(i) He has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately before the previous year in which tax is required to be deducted /collected. Two previous years to be counted are required to be those whose return filing date under sub-section (1) of section 139 has expired.
(ii) Aggregate of tax deducted at source and tax collected at source is rupees fifty thousand or more in each of these two previous years.
If the aggregate of TDS and TCS, in the case of a specified person, in any previous year , is less than fifty thousand rupees, his name would not appear/ removed (if appeared before) from the list of specified persons.
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