Get Ready to Pay 20% TDS

Source: TOI

Section 206AA, Rule 114AAA(3) of Income Tax Rules; to get ready to pay 20% higher TDS on the incomes earned from interest on fixed deposit, dividends and others, if you fail to link your Aadhar Card with PAN card by July 30, 2021. Once done, you need to inform the concerned authorities.  You can apply for refund while filing ITR, if they cut TDS even after linking aadhar card and PAN card. If you forget to do, PAN card will be considered invalid from July 1, 2021.

Kunal Kushwaha is the Founder of Surkhiyaa. He is an aspiring journalist who looks forward to provide unbiased and precise information. He strives to create Surkhiyaa as a platform that acknowledges core journalistic ethics. Kunal Kushwaha can be reached out

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