India - Income Tax Act 2010 - Saarc

S. 206C I.T. ACT, 1961 1.78678[(5A) Every person collecting tax 79 [before the 1st day of April, 2005] inaccordance with the provisions of this section shall 80 [prepare within the prescribedtime after the end of each financial year], and deliver or cause to bedelivered to the prescribed income-tax authority 81 82 [or such other authority oragency as may be prescribed] such returns in such form and verified in suchmanner and setting forth such particulars and within such time as may beprescribed 83 :]84[Provided that the Board may, if it considers necessary or expedient so to do,frame a scheme 85 for the purposes of filing such returns with such otherauthority or agency referred to in this sub-section.]86[(5B) Without prejudice to the provisions of sub-section (5A), any personcollecting tax, other than in a case where the seller is a company, the CentralGovernment or a State Government, may at his option, deliver or cause to bedelivered such return to the prescribed income-tax authority 81 in accordancewith such scheme 87 as may be specified by the Board in this behalf, by notificationin the Official Gazette, and subject to such conditions as may be specified therein,on or before the prescribed time after the end of each financial year, on a floppy,diskette, magnetic cartridge tape, CD-ROM or any other computer readablemedia (hereinafter referred to as the computer media) and in the manner as maybe specified in that scheme 88 :Provided that where the person collecting tax is a company or the CentralGovernment or a State Government, such person shall, in accordance with the78. Inserted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989.79. Inserted by the Finance Act, 2006, w.e.f. 1-4-2006.80. Substituted for “prepare half yearly returns for the period ending on 30th September and31st March in each financial year” by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004.81. The prescribed authority under rule 37F is Director General of Income-tax (Systems)/NSDL.82. Inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004.83. See rule 37E and Form No. 27E.84. Inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004.85. See Scheme for Furnishing of Paper Returns of Tax Collected at Source, 2005.86. Sub-sections (5B), (5C) and (5D) substituted for sub-sections (5B) and (5C) by the Finance(No. 2) Act, 2004, w.e.f. 1-4-2005. Prior to their substitution, sub-sections (5B) and (5C), asinserted by the Finance Act, 1999, w.e.f. 1-6-1999, read as under :“(5B) Notwithstanding anything contained in any other law for the time being in force, areturn filed on a floppy, diskette, magnetic cartridge tape, CD-ROM or any other computerreadable media as may be specified by the Board (hereinafter referred to as the computermedia) shall be deemed to be a return for the purposes of sub-section (5A) and the rulesmade thereunder and shall be admissible in any proceedings thereunder, without furtherproof of production of the original, as evidence of any contents of the original or of anyfact stated therein.(5C) A return filed under sub-section (5B) shall fulfil the following conditions, namely:—(a) while receiving returns on computer media, necessary checks by scanning thedocuments filed on computer media will be carried out and the media will be dulyauthenticated by the Assessing Officer; and(b) the Assessing Officer shall also take due care to preserve the computer media byduplicating, transferring, mastering or storage without loss of data.”87. See Electronic Filing of Returns of Tax Collected at Source Scheme, 2005.88. See rule 37EA and Form No. 27B. See also Electronic Filing of Returns of Tax Collectedat Source Scheme, 2005.