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TMI BlogCompliance and reporting.X X X X Extracts X X X X X X X X Extracts X X X X ..... rovisions of section 393(1) [Table: Sl. No. 2(i), 3(i) and 5(ii)]; (ii) to a person referred to in section 393(4) [Table: Sl. No. 12.C(a)]; and (iii) a person notified in this regard by the Central Government. (2) (a) Irrespective of anything contained in any other provision of this Act, every person, entitled to receive any amount on which tax is deductible or, paying any amount on which tax is collectible, shall furnish his valid Permanent Account Number to the person responsible for deducting or collecting tax; (b) in case of failure to comply with provisions of clause (a)- (i) tax be deducted at the higher of the following rates- (A) at the rate specified in the relevant provision of this Act; or (B) at the rate or rates in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... becomes invalid under clause (f)(i), then the deductor or collector shall deduct or collect tax as per the provisions of clause (b)(i) or (ii) as the case may be; (h) the deductee or collectee shall furnish his Permanent Account Number to the deductor or collector, as the case may be, and the same shall be indicated in all bills, vouchers, correspondence and other documents which are sent to each other. (3) (a) Every person responsible for deduction or collection of tax or employer referred to in section 392(2)(a) shall pay the amount so deducted or collected or determined as per section 392(2)(b) to the credit of the Central Government, in such time as prescribed; (b) every person responsible for deduction or collection of tax or empl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iving such particulars and within such time, as prescribed; (f) every person referred to in clause (b) or (e) may correct any discrepancy or update the information furnished, in the statement delivered under such clauses, by filing a correction statement in such form and verified in such manner as prescribed, within of six years from the end of the tax year in which such statement is required to be delivered; (g) (i) any banking company or co-operative society or public company referred to in note 1 to section 393(1) (Table: Sl. No. 5) responsible for paying to a resident any income by way of interest, less than the amount mentioned in section 393(1) [Table: Sl. No. 5(ii) and (iii)], shall deliver or cause to be delivered to the prescri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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