TMI BlogAmendment of section 191.X X X X Extracts X X X X X X X X Extracts X X X X ..... ) For the purposes of paying income-tax directly by the assessee under sub-section (1 ), if the income of the assessee in any assessment year, beginning on or after the 1st day of April, 2021, includes income of the nature specified in clause (vi ) of sub-section (2 ) of section 17 and such specified security or sweat equity shares referred to in the said clause are allotted or transfer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct relating to direct payment. The said section provides that in the case of income in respect of which provision is not made for deducting income-tax at the time of payment, and in any case where income-tax has not been deducted in accordance with the provisions of Chapter XVII, income-tax shall be payable by the assessee directly. Explanation to the said section provides that in case the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee within fourteen days after the expiry of forty- eight months from the end of the relevant assessment year; or from the date of the sale of such specified security or sweat equity share by the assessee; or from the date of the assessee ceasing to be the employee of the employer who allotted or transferred him such specified security or sweat equity share, whichever is earlier. This amendment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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