Home Acts & Rules Bill Bills Direct Taxes Code Bill, 2009 Chapters List Chapter XI - Part-A COLLECTION AND RECOVERY - A.-Deduction at source This
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Clause 199 - Reporting of payments without deduction of tax - Direct Taxes Code Bill, 2009Extract Reporting of payments without deduction of tax 199. (1) Every deductor shall deliver, or cause to be delivered, a return in respect of payment of interest to residents without deduction of tax. (2) The deductor referred to in sub-section (1) shall be any - (a) permitted financial institution; or (b) co-operative society. (3) The Central Government may, by notification in the Official Gazette, require any deductor to deliver, or cause to be delivered, a return in respect of any payment without deduction of tax. (4) The Board shall prescribe the following in respect of the return under this section:- (a) the period in respect of which the return is to be furnished; (b) the form of the return and the particulars therein; (c) the manner of verification of the return; (d) the time by, and the medium in, which the return is to be delivered; (e) the income-tax authority, or any other person, authorised to receive the return; and (f) any other matters connected therewith.
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