Tax deduction at source

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..... (c) Governmental agencies, or (d) such persons or category of persons as may be notified, by the Central or a State Government on the recommendations of the Council, [hereinafter referred to in this section as the deductor ], to deduct tax at the rate of one percent from the payment made or credited to the supplier [hereinafter referred to in this section as the deductee ] of taxable goods .....

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..... culars as may be prescribed in this behalf. (4) If any deductor fails to furnish to the deductee the certificate, after deducting the tax at source, within five days of crediting the amount so deducted to the appropriate Government, the deductor shall be liable to pay, by way of a late fee, a sum of rupees one hundred per day from the day after the expiry of the five day period until the failur .....

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..... rroneous deduction shall be dealt with in accordance with the provisions of section 38: Provided that no refund to deductor shall be granted if the amount deducted has been credited to the electronic cash ledger of the deductee. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxman .....

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