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of <h1>Guidelines for Collecting Income Tax at Source u/s 206C for Alcohol, Forest Produce Sales in 1993-94.</h1> The circular provides instructions for the collection of income tax at source under section 206C of the Income-tax Act, 1961, for the financial year 1993-94, concerning profits from trading in alcoholic liquor, forest produce, etc. The Finance Act, 1993, maintains existing tax rates. Sellers must collect tax at specified rates from buyers and remit it to the government, with additional surcharges applicable. Exemptions apply for public sector companies and certain sales. Non-compliance results in penalties, interest, and potential imprisonment. Sellers must issue tax collection certificates and submit half-yearly returns. The circular advises consulting relevant tax provisions for further clarification.
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