'Specified person' for higher TDS under Section 206AB is one who:
AHas PAN linked with Aadhaar
BHas total income above Rs. 50 lakhs (per relevant Section) (per relevant Section)
CIs a non-resident
DHas not filed return for relevant prior period AND aggregate TDS exceeds Rs. 50,000
Answer & Solution
Correct answer: D. Has not filed return for relevant prior period AND aggregate TDS exceeds Rs. 50,000
1. Section 206AB requires higher TDS for 'specified person'.
2. Specified person: hasn't filed return for AY relevant to PY immediately preceding the PY in which TDS required AND aggregate TDS+TCS for that PY is Rs. 50,000 or more.
3. Higher TDS = twice prescribed rate or 5%, whichever higher.
_Source: ICAI BoS CA Final Paper 7, Ch 1 "Basic Concepts"_
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