India - Income Tax Act 2010 - Saarc

1.771 CH. XVII - COLLECTION AND RECOVERY - DEDUCTION AT SOURCE S. 200(3) The Board may, for the purposes of giving credit in respect of tax deductedor tax paid in terms of the provisions of this Chapter, make such rules 83 as maybe necessary, including the rules for the purposes of giving credit to a personother than those referred to in sub-section (1) and sub-section (2) and also theassessment year for which such credit may be given.]Duty of person deducting tax.200. 84 [(1)] 85 Any person deducting any sum in accordance with 86 [the foregoingprovisions of this Chapter] shall pay within the prescribed time, the sum sodeducted to the credit of the Central Government or as the Board directs.(Contd. from p. 1.770)Provided that—(i) in a case where such person or owner or depositor or unit-holder or shareholder isa person, whose income is included under the provisions of section 60, section 61,section 64, section 93 or section 94 in the total income of another person, thepayment shall be deemed to have been made on behalf of, and the credit shall begiven to, such other person;(ii) in any other case, where the dividend on any share is assessable as the income ofa person other than the shareholder, the payment shall be deemed to have beenmade on behalf of, and the credit shall be given to, such other person in suchcircumstances as may be prescribed :Provided further that where any property, deposit, security, unit or share is owned jointlyby two or more persons not constituting a partnership, the payment shall be deemed tohave been made on behalf of, and credit shall be given to, each such person in the sameproportion in which rent, interest on deposit or on security or income in respect of unitor dividend on share is assessable as his income.(2) Any sum referred to in sub-section (1A) of section 192 and paid to the CentralGovernment shall be treated as the tax paid on behalf of the person in respect of whoseincome, such payment of tax has been made and credit shall be given to him for theamount so paid on production of the certificate furnished under section 203 in theassessment under this Act for the assessment year for which such income is assessable.(3) Where any deduction is made in accordance with the foregoing provisions of thisChapter on or after the 1st day of April, 2008 and paid to the Central Government, theamount of tax deducted and specified in the statement referred to in section 203AA shallbe treated as tax paid on behalf of the persons referred to in sub-section (1) or, as the casemay be, sub-section (2) and credit shall be given to him for the amount so deducted in theassessment made under this Act for the assessment year for which such income isassessable without the production of certificate.”See also Circular No. 3-D (XXI-20), dated 30-3-1967. For details, see Taxmann’s MasterGuide to Income-tax Act.83. See rule 37BA.84. Section 200 renumbered as sub-section (1) thereof by the Finance Act, 2002, w.e.f.1-6-2002.85. See rule 30.86. Substituted for the portion beginning with the words “the provisions of sections 192” andending with “section 196D” by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004. Prior to itssubstitution, the quoted portion, as amended by the Finance (No. 2) Act, 1967, w.e.f.1-4-1967, Finance Act, 1972, w.e.f. 1-4-1972, Finance Act, 1973, w.e.f. 1-4-1973, Finance Act,1978, w.e.f. 1-4-1978, Direct Tax Laws (Second Amendment) Act, 1989, w.e.f. 1-11-1989,Finance (No. 2) Act, 1991, w.e.f. 1-10-1991, Finance Act, 1992, w.e.f. 1-6-1992, Finance Act,1993, w.e.f. 1-6-1993, Finance Act, 1994, w.e.f. 1-6-1994, Finance Act, 1995, w.e.f. 1-7-1995and Finance Act, 1999, w.e.f. 1-6-1999, read as under:(Contd. on p. 1.772)