TaxTMI 
TaxTMI 
Amendment of section 201.
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....pany, who fails to deduct the whole or any part of the tax in accordance with the provisions of this Chapter on the sum paid to a resident or on the sum credited to the account of a resident shall not be deemed to be an assessee in default in respect of such tax if such resident--- (i) has furnished his return of income under section 139; (ii) has taken into account such sum for computing inco....
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....i) shall be payable from the date on which such tax was deductible to the date of furnishing of return of income by such resident."; (B) in sub-section (3), in clause (ii), for the words "four years", the words "six years" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2010; (C) after sub-section (4), the following Explanation shall be ....
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....sident -- (i) has furnished his return of income under section 139; (ii) has taken into account such sum for computing income in such return of income; and (iii) has paid the tax due on the income declared by him in such return of income, and the person furnishes a certificate to this effect from an accountant in such form as may be prescribed. It is further proposed to insert a new proviso to....
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....in default for failure to deduct the whole or any part of the tax from a person resident in India, at any time after the expiry of two years from the end of the financial year in a case in which the statement referred to in section 200 has been filed, and in any other case four years from the end of the financial year in which payment is made or credit is given. It is proposed to amend clause (ii....