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of <h1>Section 203 requires tax deductors to provide certificates showing deduction details to payees within prescribed timeframes</h1> Section 203 of the Income Tax Act, 1961 mandates that every person deducting tax at source must furnish a certificate to the payee within the prescribed period from the time of credit, payment, or issuance of cheque/warrant. The certificate must specify that tax has been deducted, the amount deducted, the rate of deduction, and other prescribed particulars. Sub-section (2) requires employers to provide similar certificates to employees regarding tax payments made to the Central Government on their behalf, including the amount paid, rate, and other prescribed details. The provision ensures transparency in tax deduction at source by requiring proper documentation and certification of all tax deductions made under the relevant provisions of the Income Tax Act.
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