Amendment status not verified — confirm the current text below against the official source.
Accounts—Every desler liable ta pay asunder this Actsliat keep at his place ofbusiness, 2 rue account ‘af parchsisc aud sales in the manner and foun #8 anny be prescribed. . + CyAPTERIV ‘TAX DUDUCTION AT SOURCE, TAX CLEARANCE, CERTIFICATE AND INFORMATION TO BE < FURNISHED : 12, Deduction of fax at source, —(H)Nonwidismeding onything contained ih any aller provisions of this Act, every person, other (lian an individual and Binduundivided Jaunily, responsible fot making any paychert for dischaiwe of any’ liability forthe fransterot the right (ose ay goods shell, at the Gin of credit to he account or at (he dime of rmtent of sich amotint in cast,” oF by cheque, oF by daisimcnt or in any oflter manner whatsoever, whichevey is canticr, deduey an rewount equal to two per cent from such suens, Provided dat na deduction shall be ade whetetie consideration {97 rigli lo use goods does not exceed four Takh rupees ina year. (2) Any tax deducted under sub-section (1) shall ‘prid to the account of the Gaverumentin sack mannerand ‘within such Lime as way be prescribed. z (8) The person making the deduction of tax wader sub-section (1} and paying il ta the account of 1he Government shall issue a certifccate of tax deduction tose donler within a poriod of fificen days of such deduction in sach manner aed in such form as may be prescribed. (4) Ady (ax deducted under sub-section (1) andpaid to the account of the Government stall, on production of the cectificate of deduction under sub-section (3) by the ransfcree be deemed to be the ta paid by The dealer for the relevant period and shall be given credit in his assessinest agcordingiy. 5) any person fails 10 make deduction ar after making’a deduction fails to depasit fo the account of the Government the atuqunl so deducted. the Commistioner may. aller giving to Sock pessan an opportanily of being beard. by order int writing. direct that such person shal) pay; by way of penaky. a sum not exceeding twice che ‘amount deductible or deducted under this section besides the tax deriuciibte bin nd so deduced and, if deducted, not so deposited into.the Government Treasury, {6) Without grejudice tore provisions of sub-section (5), iEany. person fails to ntake deduction or after making sion. fails to deposit the amount So deducted, Jiable {0 pay Simple interest at the rate of two 7 per month on thc amount deductible under this ‘on bul not so deducted and, if deducted, not so Fesited fiom the dale on which such amount was Faeductible 19 che date on which such amount is actually deposited i (7) Where an amount has nol been deposited after deduction, such amount togedher with intefest and penalty shal] bencharge upon all the asscis of the person conse med and recoverable ag arrears of land revenue, *