Furnishing of statement in respect of payment of any income to residents without deduction of tax (1) Any banking company or co-operative society or public company referred to in the proviso to clause (i) of sub-section (3) of section 194A responsible for paying to a resident any income not exceeding forty thousand rupees, where the payer is […]

Requirement to furnish Permanent Account number by collectee (1) Notwithstanding anything contained in any other provisions of this Act, any person paying any sum or amount, on which tax is collectible at source under Chapter XVII-BB (herein referred to as collectee) shall furnish his Permanent Account Number to the person responsible for collecting such tax

Persons deducting tax to furnish prescribed returns (1) The prescribed person69 in the case of every office of Government, the principal officer in the case of every company, the prescribed person69 in the case of every local authority or other public body or association, every private employer and every other person responsible for deducting tax before the

Processing of statements of tax collected at source 1) Where a statement of tax collection at source or a correction statement has been made by a person collecting any sum (herein referred to as collector) under section 206C, such statement shall be processed in the following manner, namely:— (a) the sums collectible under this Chapter shall

Bar against direct demand on assessee Where tax is deductible at the source under the foregoing provisions of this Chapter, the assessee shall not be called upon to pay the tax himself to the extent to which tax has been deducted from that income. Practice area’s of B K Goyal & Co LLP Income Tax

Tax collection account number (1) Every person collecting tax in accordance with the provisions of section 206C, shall, within such time as may be prescribed89, apply to the Assessing Officer for the allotment of a tax collection account number90. (2) Where a tax collection account number has been allotted to a person, such person shall quote

Meaning of “person responsible for paying For the purposes of the foregoing provisions of this Chapter and section 285, the expression “person responsible for paying” means— (i) in the case of payments of income chargeable under the head “Salaries”, other than payments by the Central Government or the Government of a State, the employer himself or,

Person paying dividend to certain residents without deduction of tax to furnish prescribed return  [Omitted by the Finance (No. 2) Act, 1996, w.e.f.1-10-1996.] Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration |

Tax deduction and collection account number (1) Every person, deducting tax or collecting tax in accordance with the provisions of this Chapter, who has not been allotted a tax deduction account number or, as the case may be, a tax collection account number, shall, within such time as may be prescribed68, apply to the Assessing

Profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc (1) Every person, being a seller shall, at the time of debiting of the amount payable by the buyer to the account of the buyer or at the time of receipt of such amount from the said buyer in cash