Collection as payment of tax deemed to be on behalf of the taxpayer, with credit allowed under Board-prescribed rules. Amounts collected and paid to the Central Government under section 206C are deemed to be a payment of tax on behalf of the person from whom collected, and such person shall be given credit for that amount in the relevant assessment year in accordance with rules prescribed by the Board; the amendment also advances the operative timing of a proviso to subsection (5), altering when the collection-and-credit mechanism applies.
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 as payment of tax deemed to be on behalf of the taxpayer, with credit allowed under Board-prescribed rules.
Amounts collected and paid to the Central Government under section 206C are deemed to be a payment of tax on behalf of the person from whom collected, and such person shall be given credit for that amount in the relevant assessment year in accordance with rules prescribed by the Board; the amendment also advances the operative timing of a proviso to subsection (5), altering when the collection-and-credit mechanism applies.
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