TaxTMI 
TaxTMI 
Credit for tax collected a source for the purposes of sub-section (4) of section 206C
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....l be given to the person form whom the tax has been collected 3[(hereinafter referred to as the collectee)], on the basis of the information relating to collection of tax at source (hereinafter referred to as the collector) to the income-tax authority or the person authorized by such authority. 4[(1A) (a) Where under any provisions of the Act, the income of the collectee is assessable in the hand....
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....) of section 206C of the Act, in the name of the person in whose name credit is shown in the information relating to collection of tax referred to in sub-rule (1) and shall keep the declaration in his safe custody.] (2) (i) Where tax has been collected at source and paid to the Central Government, credit for such tax shall be given for the assessment year for which the income is assessable to tax....
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....the information relating to collection of tax furnished by the collector to the income-tax authority or the person authorized by such authority; and (ii) the information in the return of income in respect of the claim for the credit, subject to verification in accordance with the risk management strategy formulated by the Board from time to time.] ************* NOTES:- 1. Inserted vide not....