If you have not filed your income tax return yet, then submit the ITR by June 30, otherwise you will have to pay double TDS after that. If a taxpayer has not filed TDS in the last 2 years and the deduction of TDS in each year exceeds Rs 50,000, then the Income Tax Department will charge a higher fee while filing ITR from July 1.
After the implementation of the Finance Act 2021, changes have been made in the rules of TDS. These changes are related to TDS Rules for goods purchase and those who do not file ITR (TDS Rules for non ITR filers).
These new changes will be effective from July 1. In the general budget presented for the financial year 2021-22, Finance Minister Nirmala Sitharaman announced several major changes in the income tax system which will be implemented from July 1, 2021.
