Clause 202 - Tax collection at source. - Direct Taxes Code, 2010

B.—Collection of tax 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 the Table given below, shall collect from the buyer, lessee or licensee, as the case may be, a sum by way of income-tax, equal to the percentage, as specified in the corresponding entry in column (3) of the said Table, of such amount: TABLE Serial number Nature of transaction Percentage (1) (2) (3) 1 Sale of alcoholic liquor for human consumption Three per cent. 2 Sale of tendu leaves Three per cent. Three per cent. 3 Sale of timber obtained under a forest lease or otherwise Three per cent. 4 Sale of any other forest produce not being timber or tendu leaves Three per cent. 5 Sale of scrap Three per cent. 6 Grant of lease or licence or contract or transfer of any right or interest, either in whole or in part, for a parking lot Three per cent. 7 Grant of lease or licence or contract or transfer of any right or interest, either in whole or in part, for a toll plaza Three per cent. 8 Grant of lease or licence or contract or transfer of any right or interest, either in whole or in part, for mining or quarrying Three per cent. (2) For the purposes of sub-section (1), the collection of an amount shall be deemed to have been made, if the amount has been received— (a) in cash; (b) by way of a cheque or a draft; (c) by debit to any account, whether called "suspense account" or by any other name; or (d) by any other mode as may be prescribed, whichever is earlier. (3) Any person collecting any amount under sub-section (1) shall pay the sum so collected to the credit of the Central Government within such time and manner as may be prescribed. (4) Every person responsible for collecting any amount under sub-section (1) shall furnish to the buyer, lessee or licensee referred to in sub-section (1), a certificate of tax collection within such time as may be prescribed. (5) Every person responsible for collecting any amount under sub-section (1) shall deliver, or cause to be delivered, a return of tax collection in the manner provided under subsection sub-section (6). (6) The Board shall in respect of the return of tax collection, prescribe the following namely:— (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 matter connected therewith.