India - Income Tax Act 2010 - Saarc

S. 206 I.T. ACT, 1961 1.778maintained in accordance with the Foreign Exchange Regulation Act,1973 (46 of 1973), and any rules made thereunder;](iii) 24 [in the case of credit, or, as the case may be, payment] of any othersum chargeable under the provisions of this Act, the payer himself, or,if the payer is a company, the company itself including the principalofficer thereof.25[Explanation.—For the purposes of this section,—(a) “non-resident Indian” and “foreign exchange asset” shall have themeanings assigned to them in Chapter XII-A;(b) “authorised dealer” 26 shall have the meaning assigned to it in clause (b)of section 2 of the Foreign Exchange Regulation Act, 1973 (46 of1973).]Bar against direct demand on assessee.205. Where tax is deductible at the source under 27 [the foregoing provisionsof this Chapter], the assessee shall not be called upon to pay the tax himselfto the extent to which tax has been deducted from that income.28[Persons deducting tax to furnish prescribed returns.29206. 30 [(1)] The prescribed person 31 in the case of every office of Government,the principal officer in the case of every company, the prescribed person 31in the case of every local authority or other public body or association, everyprivate employer and every other person responsible for deducting tax 32 [beforethe 1st day of April, 2005] under the foregoing provisions of this Chapter 33 [shall,24. Substituted for “in the case of payments” by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1967.25. Inserted by the Finance Act, 1986, w.e.f. 1-6-1986.26. For definition of “authorised dealer”, see footnote 30 on p. 1.437 ante.27. Substituted for the portion beginning with the words “sections 192 to 194” and ending with“section 196D” by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004. Prior to its substitution,the quoted portion, as amended by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1967, FinanceAct, 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. 1-7-1995 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, section 195, section 196A, section 196B, section196C and section 196D”.28. Substituted by the Finance Act, 1987, w.e.f. 1-6-1987. Prior to its substitution, section 206was amended by the Finance Act, 1965, w.e.f. 1-4-1965.29. See also Circular No. 719, dated 22-8-1995, Circular No. 744, dated 6-5-1996, Circular No.796, dated 10-10-2000, Circular No. 797, dated 10-10-2000, Circular No. 8/2003, dated18-9-2003 and Circular No. 4/2005, dated 27-6-2005. For details, see Taxmann’s MasterGuide to Income-tax Act.30. Section 206 renumbered as sub-section (1) by the Finance Act, 1997, w.e.f. 1-4-1997.31. See rule 36 for prescribed persons.32. Inserted by the Finance Act, 2006, w.e.f. 1-4-2006.33. Substituted for “shall prepare, within the prescribed time after the end of each financialyear, and deliver or cause to be delivered” by the Finance (No. 2) Act, 1991, w.e.f. 27-9-1991.