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Insertion of new section 206CC- Requirement to furnish Permanent Account Number by collectee.

Clause 72 - Bills - DIRECT TAXES - Income-tax - Bill - Clause 72 - Insertion of new section 206CC. 72. After section 206CB of the Income-tax Act, the following section shall be inserted, namely:- Requirement to furnish Permanent Account Number by col .....

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Account Number to the person responsible for collecting such tax (herein referred to as collector), failing which tax shall be collected at the higher of the following rates, namely:- (i) at twice the rate specified in the relevant provision of this .....

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ction (2), the collector shall collect the tax at source in accordance with the provisions of sub-section (1). (4) No certificate under sub-section (9) of section 206C shall be granted unless the application made under that section contains the Perma .....

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e the Permanent Account Number provided to the collector is invalid or does not belong to the collectee, it shall be deemed that the collectee has not furnished his Permanent Account Number to the collector and the provisions of sub-section (1) shall .....

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ace of business through which the business of the enterprise is wholly or partly carried on. . Clause 72 of the Bill seeks to insert a new section 206CC after section 206CB of the Income-tax Act relating to requirement to furnish Permanent Account Nu .....

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Number to the person responsible for collecting such tax (herein referred to as collector), failing which tax shall be collected at twice the rate mentioned in the relevant section or at the rate of five per cent., whichever is higher. The proposed s .....

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at in case any declaration becomes invalid under sub-section (2), the collector shall collect the tax at source in accordance with the provisions of sub-section (1). The proposed sub-section (4) provides that no certificate under sub-section (9) of s .....

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