TMI BlogAmendment of section 201.X X X X Extracts X X X X X X X X Extracts X X X X ..... Provided that any person, including the principal officer of a company, who fails to deduct the whole or any part of the tax in accordance with the provisions of this Chapter on the sum paid to a resident or on the sum credited to the account of a resident shall not be deemed to be an assessee in default in respect of such tax if such resident - (i) has furnished his re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he sum credited to the account of a resident but is not deemed to be an assessee in default under the first proviso of sub-section (1), the interest under clause (i) shall be payable from the date on which such tax was deductible to the date of furnishing of return of income by such resident. ; (B) in sub-section (3), in clause (ii), for the words four years , the words six years shal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the provisions of this Chapter on the sum paid to a resident or on the sum credited to the account of a resident shall not be deemed to be an assessee in default in respect of such tax if such resident -- (i) has furnished his return of income under section 139; (ii) has taken into account such sum for computing income in such return of income; and (iii) has paid the tax due on the inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from 1st July, 2012. The existing provisions of sub-section (3) of the aforesaid section 201 provide that no order shall be made under sub-section (1) of the said section deeming a person to be an assessee in default for failure to deduct the whole or any part of the tax from a person resident in India, at any time after the expiry of two years from the end of the financial year in a case in w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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