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2012 (12) TMI 490 - AT - Income TaxTDS u/s 192 - Assessee in default - Perquisite u/s 17(2) - retrospective amendment - held that:- the Legislature while retrospectively amending Section 17(2)(ii) of the Act has not chosen to amend Section 192 or Section 201 of the Act. Therefore, the employer assessee is not hit by the retrospective insertion of Explanation to Section 17(2) of the Act. Section 192 deals with the deduction of tax at source. Perquisite is actually not a payment of salary but a benefit not in terms of money, there was no provision initially to deduct tax at source. It is provided by section 192(1B) by the Finance Act, 2002 with effect from Ist June, 2002 and as to computation of income of perquisite, the provision in section 192(1A), also by the same Act with effect from the same date. This tax, at the option of the assessee, can be paid on the whole or part of such income without making any deduction therefrom at the time when it was otherwise deductible u/s 192. A duty is also cast upon the person deducting tax u/s 200. Rule 3 of IT Rules, 1962 provides for the time and mode of payment to the Government account of tax deducted at source. As per the provisions of section 200, the tax deducted at source is a mode of payment of tax on the income of the person on whose income it is deducted i.e. employees in this case. - Decided in favor of assessee.
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