Quarterly tax deduction reporting requirement: payers must file verified quarterly statements after depositing deducted tax. A new sub section requires any person deducting tax under the Chapter, and specified employers, to prepare and deliver verified quarterly statements after paying the tax deducted to the Central Government within the prescribed time. Statements must correspond to quarter ending dates, be in the prescribed form, set forth prescribed particulars, be verified in the prescribed manner, and be delivered to the prescribed income tax authority or its authorised person within prescribed timelines.