CHAPTER III
DIRECT TAXES
Income-tax
Amendment of section 203.
43. In section 203 of the Income-tax Act, sub-section (3) shall be omitted.
Notes on Clauses:
Clause 43 of the Bill seeks to amend section 203 of the Income tax Act relating to certificate for tax deducted.
Under the existing provisions contained in sub-section (3) of the aforesaid section, where the tax has been deducted or paid in accordance with the provisions of Chapter XVII-B on or after 1st April, 2010, there is no requirement to furnish a certificate referred to in sub-section (1) or, as the case may be, under sub-section (2) of the aforesaid section, by the deductor to the deductee.
It is proposed to omit the aforesaid sub-section (3) of section 203 of the Income-tax Act.
This amendment will take effect retrospectively from 1st April, 2010.
