1.

Briefly Explain the provisions regarding issue of Certificate of Tax Deducted in accordance with Section 203 of the Income Tax Act?

Answer»

The person who deducts tax has to issue a certificate in the prescribed form to the person from whose payments deduction has been made, showing therein the particulars of payment, the date of tax deducted at source and the date of its credit to the Central Government. It is on the basis of this certificate that the payee can claim credit for tax paid on his behalf and can claim refund, if any, due to him on the basis of tax liability for the relevant year. a) Form No. 16 in case of salary and b) Form No. 16A in cases other than salary



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