The Income Tax Department has activated the online system to determine the ‘Specified Person’ on whom the higher rate of TDS / TCS will be applicable under the newly introduced Sections 206AB & 206CCA.
The Quick Reference Guide Version 1.0 (June 2021) has been uploaded.
This has been extracted from https://report.insight.gov.in
After completing the registration process, one can start using the facilities. It has two options:
By entering one PAN at a time and get instant response
Upload CSV of a list of PANs (maximum 10,000 at a time). After a short while, the output CSV can be downloaded with response for each PAN.
With this facility, the Income Tax Department has made handling of this compliance much easier.