Clause 201 - Credit for tax collected. - Direct Taxes Code, 2010

Credit for tax collected. 201. (1) All sums deducted in accordance with the provisions of this Chapter shall, for Credit for tax deducted. the purposes of computing total income of a deductee be deemed to be the income received. (2) Any deduction made in accordance with the provisions of this Chapter and paid to the credit of the Central Government shall be treated as a payment of tax on behalf of the person in respect of whom the deduction was made. (3) For the purposes of giving credit in respect of tax deducted, the Board may prescribe— (a) the procedure for giving credit to the deductee, or any other person; (b) the financial year for which such credit may be given; and (c) any other matter connected therewith.