9911796707
TMI BlogAmendment of section 206CX X X X Extracts X X X X X X X X Extracts X X X X ..... the time of debiting of the amount payable by the licensee or lessee to the account of the licensee or lessee or at the time of receipt of such amount from the licensee or lessee in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, collect from the licensee or lessee of any such licence, contract or lease of the nature specified in column (2) of the Table below, a sum equal to the percentage, specified in the corresponding entry in column (3) of the said Table, of such amount as income-tax: S. No.l Nature of contract or licence or lease, etc. Percentage (1) (2) (3) (i) Parking lot Two per cent. (ii) Toll plaza Two per cent. (iii) Mining and quarrying Two per cent.'; (b) in sub-section (2), after the word ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... statement referred to in the second proviso to sub-section (5) shall be deemed as payment of tax on behalf of the person from whom the amount has been collected and credit shall be given to him for the amount so collected in the assessment made under this Act for the assessment year for which such income is assessable without the production of certificate."; (e) in sub-section (5),- (i) for the word "buyer", the words "buyer or licensee or lessee" shall be substituted with effect from the 1st day of October, 2004; (ii) the following provisos shall be inserted with effect from the 1st day of April, 2005, namely:- "Provided that no certificate may be furnished in a case where tax has been collected in accordance with the foregoing provisions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any person collecting tax, other than in a case where the seller is a company, the Central Government or a State Government, may at his option, deliver or cause to be delivered such return to the prescribed income-tax authority in accordance with such scheme as may be specified by the Board in this behalf, by notification in the Official Gazette, and subject to such conditions as may be specified therein, on or before the prescribed time after the end of each financial year, on a floppy, diskette, magnetic cartridge tape, CD-ROM or any other computer readable media (hereinafter referred to as the computer media) and in the manner as may be specified in that scheme: Provided that where the person collecting tax is a company or the Central G ..... X X X X Extracts X X X X X X X X Extracts X X X X
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