https://www.taxtmi.com/acts?id=4061 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. en-us Sat, 19 Jan 2008 22:45:54 +0530 Mon, 01 Sep 2025 12:44:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4061 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. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4061