206AB Compliance Check Verify Tax Compliance Status
T he Indian government recently introduced section 206AB in the Income Tax Act, 1961, to ensure that individuals and businesses comply with their tax obligations. This section applies to persons who have not filed their income tax returns or have filed them late, resulting in their names being added to the list of defaulters. To help taxpayers check their compliance status under section 206AB, the government has introduced an online tool called the 206AB Compliance Check. This tool allows taxpayers to verify their compliance status and avoid being subjected to higher TDS (Tax Deduction at Source) rates. To use the 206AB Compliance Check tool, taxpayers need to enter their PAN (Permanent Account Number) and assessment year. The tool will then generate a report that indicates whether the taxpayer is compliant or non-compliant under section 206AB. If the taxpayer is compliant, the tool will display a message stating that the taxpayer is compliant under section 206AB and will not be subje...