Lower tax collection certificates require prior administrative approval; station-based thresholds trigger higher-level sign-off and endorsement. Prior administrative approval is required for issuance of certificates under section 206C(9) permitting lower collection of tax at source, with Addl. CIT/JCIT approval in each case and CIT(TDS) approval where cumulative tax foregone for a buyer, licensee or lessee in a financial year exceeds specified station-based thresholds; approvals must be endorsed to the jurisdictional CIT. Equivalent powers are delegated to officers in the Directorate of Income Tax (International Taxation). 'Tax foregone' ordinarily means the difference between tax at the statutory collection rate and tax at the reduced rate for which the certificate is sought.
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.
Prior administrative approval is required for issuance of certificates under section 206C(9) permitting lower collection of tax at source, with Addl. CIT/JCIT approval in each case and CIT(TDS) approval where cumulative tax foregone for a buyer, licensee or lessee in a financial year exceeds specified station-based thresholds; approvals must be endorsed to the jurisdictional CIT. Equivalent powers are delegated to officers in the Directorate of Income Tax (International Taxation). "Tax foregone" ordinarily means the difference between tax at the statutory collection rate and tax at the reduced rate for which the certificate is sought.
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