Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Collection at source: sellers must collect prescribed tax percentages on specified goods and high value transactions at payment. Section 206C mandates collection at source by sellers: collect prescribed percentages of income-tax at time of debit or receipt on specified goods and transactions (including alcoholic liquor, tendu leaves, timber, forest produce, scrap, certain minerals, leases of parking/toll/mining rights, and specified high-value sales). Collectors must remit amounts within prescribed time, furnish certificates and statements to buyers or licensees, and deliver declarations to tax authorities. Failure to collect or remit attracts deeming as assessee in default, payment of tax and prescribed interest, subject to limited exceptions and authority to issue lower-rate certificates and Board rules.
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.
Collection at source: sellers must collect prescribed tax percentages on specified goods and high value transactions at payment.
Section 206C mandates collection at source by sellers: collect prescribed percentages of income-tax at time of debit or receipt on specified goods and transactions (including alcoholic liquor, tendu leaves, timber, forest produce, scrap, certain minerals, leases of parking/toll/mining rights, and specified high-value sales). Collectors must remit amounts within prescribed time, furnish certificates and statements to buyers or licensees, and deliver declarations to tax authorities. Failure to collect or remit attracts deeming as assessee in default, payment of tax and prescribed interest, subject to limited exceptions and authority to issue lower-rate certificates and Board rules.
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