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Non-ITR filers will face higher TDS

Non-ITR filers will face higher TDS

If you have not filed the income tax return for fiscal 2020-21, then you will be on the list of non-tax filers and have to face higher tax deduction at source from this financial fear. The Central Board of Direct Taxes (CBDT) has issued a circular to determine the non-filers, or “specified person” who are subject to higher tax withholding or collection for FY 2022-23, while relaxing some of the guidelines.

According to the circular, if the ITR was not filed for the relevant previous fiscal year and the aggregate TDS and tax collected at source exceeded Rs 50,000 that year, it would attract a high TDS. Banks will be required to check if an individual has met both conditions to attract a higher TDS.

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