India - Income Tax Act 2010 - Saarc

1.777 CH. XVII - COLLECTION AND RECOVERY - DEDUCTION AT SOURCE S. 204(c) in all the returns, delivered in accordance with the provisions ofsection 206 or sub-section (5A) or sub-section (5B) of section 206C toany income-tax authority; and(d) in all other documents pertaining to such transactions as may beprescribed in the interests of revenue.]18[Furnishing of statement of tax deducted.203AA. The prescribed income-tax authority or the person authorised by suchauthority referred to in sub-section (3) of section 200, shall, within theprescribed time after the end of each financial year beginning on or after the 1stday of April, 19 [2008] prepare and deliver to every person from whose income thetax has been deducted or in respect of whose income the tax has been paid astatement in the prescribed form specifying the amount of tax deducted or paidand such other particulars as may be prescribed. 20 ]Meaning of “person responsible for paying”.204. For the purposes of 21 [the foregoing provisions of this Chapter] and22section 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 theGovernment of a State, the employer himself or, if the employer is acompany, the company itself, including the principal officer thereof;(ii) in the case of payments of income chargeable under the head“Interest on securities”, other than payments made by or on behalf ofthe Central Government or the Government of a State, the localauthority, corporation or company, including the principal officerthereof;23[(iia) in the case of any sum payable to a non-resident Indian, being any sumrepresenting consideration for the transfer by him of any foreignexchange asset, which is not a short-term capital asset, the authoriseddealer responsible for remitting such sum to the non-resident Indianor for crediting such sum to his Non-resident (External) Account18. Inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-4-2005.19. Substituted for “2005” by the Finance Act, 2006, w.e.f. 1-4-2006.20. See rule 31AB and Form No. 26AS.21. Substituted for the portion beginning with the words “sections 192 to 194” and ending with“sections 195 to 203” 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, 1994, w.e.f. 1-6-1994, Finance Act,1995, w.e.f. 1-7-1995 and Finance Act, 1999, w.e.f. 1-6-1999, read as under:“sections 192 to 194, section 194A, section 194B, section 194BB, section 194C, section 194D,section 194E, section 194EE, section 194F, section 194G, section 194H, section 194-I,section 194J, section 194K, section 194L, sections 195 to 203”.22. Section 285 has since been omitted by the Finance Act, 1987, w.e.f. 1-6-1987.23. Inserted by the Finance Act, 1986, w.e.f. 1-6-1986.