Section 56 - Substitution of new section for section 206 - Finance Act, 1987

56. Substitution of new section for section 206 For section 206 of the Income-tax Act, the following section shall be substituted with effect from the 1st day of June, 1987, namely :- 206. Persons deducting tax to furnish prescribed returns. - The prescribed person in the case of every office of Government, the principal officer in the case of every company, the prescribed person in the case of every local authority or other public body or association, every private employer and every other person responsible for deducting tax under the foregoing provisions of this Chapter shall prepare, within the prescribed time after the end of each financial year, and deliver or cause to be delivered to the prescribed income-tax authority, such returns in such form and verified in such manner and setting forth such particulars as may be prescribed. .