Tax collection at source requirement: sellers and lessors must collect income-tax from buyers for specified transactions. A statutory mechanism requires sellers, lessors or licensors in specified transactions to collect income-tax at source from buyers or lessees at the notified percentage. Collection is deemed complete on receipt by cash, cheque, account debit or other prescribed mode. Collectors must remit sums to the Central Government within prescribed time, provide certificates of tax collection to payers, and deliver prescribed returns; the Board will prescribe the period, form, verification, delivery medium, authorised recipients and related matters for such returns.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax collection at source requirement: sellers and lessors must collect income-tax from buyers for specified transactions.
A statutory mechanism requires sellers, lessors or licensors in specified transactions to collect income-tax at source from buyers or lessees at the notified percentage. Collection is deemed complete on receipt by cash, cheque, account debit or other prescribed mode. Collectors must remit sums to the Central Government within prescribed time, provide certificates of tax collection to payers, and deliver prescribed returns; the Board will prescribe the period, form, verification, delivery medium, authorised recipients and related matters for such returns.
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