Case Laws
Acts
Notifications
Circulars
Classification
Forms
Manuals
Articles
News
D. Forum
Highlights
Notes
🚨 Important Update for Our Users
We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.
Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Clause 38 - Amendment of Section 191 - Finance Bill, 2008Extract 38. In section 191 of the Income-tax Act, for the Explanation, the following Explanation shall be substituted and shall be deemed to have been substituted with effect from the 1 st day of June, 2003, namely:— '' Explanation .-For the removal of doubts, it is hereby declared that if any person, including the principal officer of a company,— ( a ) who is required to deduct any sum in accordance with the provisions of this Act; or ( b ) referred to in sub-section ( 1A ) of section 192, being an employer, does not deduct, or after so deducting fails to pay, or does not pay, the whole or any part of the tax, as required by or under this Act, and where the assessee has also failed to pay such tax directly, then, such person shall, without prejudice to any other consequences which he may incur, be deemed to be an assessee in default within the meaning of sub-section ( 1 ) of section 201, in respect of such tax.".
|