If I deduct under section 206AB whether it is again required to deduct under particular section e g. 194 C or deduction under 206AB is enough At the time of 26 Q return filling which head to show 194c or it reflects 206AB
TDS should be deducted under section 194C Section 206AB is a newly introduced section for deduction of a higher TDS rate for non-filers of income tax returns
206 AB s kind of penal section, that if seller doesn't file return in last 2 FY and he has tds credit of 50000, then buyer can deduct tds at a double rate or 5 % rate whichever s higher
CAclubindia
