Substitution of section 206A.

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....ction of tax. "206A.(1) Any banking company or co-operative society or public company referred to in the proviso to clause (i) of sub-section (3) of section 194A responsible for paying to a resident any income not exceeding forty thousand rupees, where the payer is a banking company or a co-operative society, and five thousand rupees in any other case by way of interest (other than intere....

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....ub-section (1). (3) The person responsible for paying to a resident any income referred to in sub-section (1) or sub-section (2) may also deliver to the income-tax authority referred to in sub-section (1), a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered under the said sub-sections in such form and ver....

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....nd within such time, as may be prescribed, and deliver or cause to be delivered to the prescribed income-tax authority or to the person authorised by such authority. Sub-section (2) of the proposed section provides that the Board may, by rules, require any person other than a person mentioned in sub-section (1), responsible for paying to a resident, any income liable for deduction of tax at sou....