Clause 202 - Tax collection at source - Direct Taxes Code Bill, 2009

B. - Collection at source Tax collection at source 202. (1) Any person, being a seller, lessor or licensor, who is responsible for collecting any amount on account of any transaction specified in column (2) of Table-6, shall collect from the buyer, lessee or licensee, as the case may be, a sum, equal to the percentage as specified in corresponding entry in column (3) of the said Table, of such amount as income-tax. Table-6 Sl.No. Nature of goods or contract or license or lease Percentage (1) (2) (3) (i) Sale of alcoholic liquor for human consumption 3 per cent (ii) Sale of tendu leaves 3 per cent (iii) Sale of timber obtained under a forest lease or otherwise 3 per cent (iv) Sale of any other forest produce not being timber or tendu leaves 3 per cent (v) Sale of scrap 3 per cent (vi) Grant of lease or licence or contract for parking lot 3 per cent (vii) Grant of lease or licence or contract for toll plaza 3 per cent (viii) Grant of lease or licence or contract for mining or quarrying 3 per cent (2) For the purposes of sub-section (1), the payment of income shall be deemed to have been made, if the amount receivable has been settled,- (a) in cash; (b) by issue of a cheque or draft; (c) by credit to any account, whether called "Suspense account" or by any other name; or (d) by any other mode as may be prescribed. (3) Any person collecting any amount under sub-section (1) shall pay the sum so collected to the credit of the Central Government within the time, and in the manner, prescribed. (4) Every person responsible for collecting any amount under sub-section (1) shall furnish, within the prescribed time, to the buyer, lessee or licensee referred to in sub-section (1), a certificate of tax collection, as prescribed. (5) Every person aforesaid shall deliver, or cause to be delivered, a return of tax collection, as may be prescribed. (6) The Board shall prescribe the following in respect of the return of tax collection:- (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.