India - Income Tax Act 2010 - Saarc

1.781 CH. XVII - COLLECTION AND RECOVERY - DEDUCTION AT SOURCE S. 206AAprescribed] and deliver or cause to be delivered to the prescribed income-taxauthority 46 or the person authorised by such authority the quarterly returns asaforesaid, in the prescribed form 47 , verified in such manner and within such timeas may be prescribed, on a floppy, diskette, magnetic cartridge tape, CD-ROM orany other computer readable media.(2) The Central Government may, by notification in the Official Gazette, requireany person other than a person mentioned in sub-section (1) responsible forpaying to a resident any income liable for deduction of tax at source underChapter XVII, to prepare and deliver or cause to be delivered 48 [such statements]in the prescribed form and verified in such manner and within such time as maybe prescribed, to the prescribed income-tax authority or the person authorisedby such authority on a floppy, diskette, magnetic cartridge tape, CD-ROM or anyother computer readable media.]49[Requirement to furnish Permanent Account Number.206AA. (1) Notwithstanding anything contained in any other provisions of thisAct, any person entitled to receive any sum or income or amount, onwhich tax is deductible under Chapter XVIIB (hereafter referred to as deductee)shall furnish his Permanent Account Number to the person responsible fordeducting such tax (hereafter referred to as deductor), failing which tax shall bededucted at the higher of the following rates, namely:—(i) at the rate specified in the relevant provision of this Act; or(ii) at the rate or rates in force; or(iii) at the rate of twenty per cent.(2) No declaration under sub-section (1) or sub-section (1A) or sub-section (1C) ofsection 197A shall be valid unless the person furnishes his Permanent AccountNumber in such declaration.(3) In case any declaration becomes invalid under sub-section (2), the deductorshall deduct the tax at source in accordance with the provisions of sub-section (1).(4) No certificate under section 197 shall be granted unless the application madeunder that section contains the Permanent Account Number of the applicant.(5) The deductee shall furnish his Permanent Account Number to the deductorand both shall indicate the same in all the correspondence, bills, vouchers andother documents which are sent to each other.(6) Where the Permanent Account Number provided to the deductor is invalid ordoes not belong to the deductee, it shall be deemed that the deductee has notfurnished his Permanent Account Number to the deductor and the provisions ofsub-section (1) shall apply accordingly.]46. Prescribed authority is Director General of Income-tax (Systems) or person authorised byhim.47. See rules 31AC and 31ACA and Form Nos. 26QA and 26QAA.48. Substituted for “quarterly returns” by the Finance (No. 2) Act, 2009, w.e.f. 1-10-2009.49. Inserted, ibid., w.e.f. 1-4-2010.