Deduction or collection at source and advance payment (General) - Section 390 (New) / Section 190 (Old)

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....of the Income-tax Act, 1961. Section 390(1): Modes of payment of tax Tax on income is payable through any of the following modes: • Deduction or collection at source (TDS/TCS); • Advance tax; • Direct payment under section 392(2)(a) (non-monetary perquisite) (i.e., where tax is required to be paid directly instead of being deducted at source)....

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.... the charging provision contained in section 4(1). Section 390(4): Collection provisions are additional The payment of tax through TDS, TCS or advance tax is in addition to any other recovery mechanism available under the Act. Accordingly, if tax remains payable after assessment, the Department may recover the balance through demand and recovery proceedings. Section 390(5): Credit of t....

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....s payable. Section 390(6): Rule-making power The Board (CBDT) may frame rules regarding: • granting credit of tax deducted, collected or paid, including credit to a person other than the person referred to in sub-section (5); and • determining the tax year in which such credit shall be allowed. Comparative Analysis: Section 190 (Income-tax Act, 1961) vs. Sect....