Tag Archives: #TaxpayerDeclaration

What is the declaration towards Section 206AB of income tax?

Declaration of Section 206AB

Declaration of Section 206AB   Declaration of section 206AB, Section 206AB of the Income Tax Act, 1961, was implemented as part of the Union Budget 2021 and has been in effect since July 1, 2021. This provision mandates designated individuals to withhold tax at an increased rate on particular payments made to individuals who have… Read More »

If a taxpayer does not pay any taxes, can they still maintain their “taxpayer” status Taxpayer status?

Taxpayer status

Taxpayer status    Taxpayer status,   Yes, a taxpayers can maintain their “taxpayers” status even if they have not paid any taxes, provided that they have filed their tax returns on time and complied with other tax-related obligations. In many countries, including the United States, simply filing a tax return is enough to maintain taxpayers status,… Read More »