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of <h1>Clause 78 Amends Section 204 of Income-tax Act, Defines 'Person Responsible for Paying' in Government Transactions</h1> Clause 78 of the Finance Bill, 2012, amends section 204 of the Income-tax Act to define the 'person responsible for paying' in cases where sums are chargeable under the Act by or on behalf of the Central or State Government. The amendment introduces a clause specifying that the drawing and disbursing officer, or any person responsible for crediting or paying such sums, will be deemed the responsible party. This change clarifies accountability in government-related financial transactions and is effective from July 1, 2012.
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