Income tax vide Notification No. 01/2021 dated 22nd June, 2021 has released a new functionality Compliance Check for Section 206AB & 206CC to facilitate tax deductors/collectors to verify if a person is a "Specified Person" as per section 206AB & 206CCA.
Specified person means a person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately prior to the previous year in which tax is required to be collected, for which the time limit of filing return of income under Section 139(1) has expired; and the aggregate tax deducted at source and tax collected at source is rupees fifty thousand or more in each of these two previous years.
