Issue of certificate for tax deducted at source in respect of payment made net of tax

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....to Boards Circular No. 664, dated 29-9-1993 explaining the provisions of section 203 of Income-tax Act, 1961 under which the person deducting tax under any provision of Chapter XVII of the Income-tax Act, 1961 is required to furnish a certificate to the effect that tax has been deducted and to specify therein, inter alia, the amount deducted and any other particulars that may be prescribed. 2. ....

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....ld after deduction of tax thereon, be equal to the net amount payable under the agreement. 4. Any sum deducted in accordance with the provisions of Chapter XVII of the Income-tax Act is deemed to be the income of the payee as per section 198 of the Income-tax Act. Further, section 199 of the Act provides that credit for the tax deducted at source and paid to the Central Government shall be give....