TMI BlogSection 199 - Credit for tax deducted at sourceX X X X Extracts X X X X X X X X Extracts X X X X ..... lf of the - person from whose income the deduction was made, or owner of the security, or depositor or owner of property or unit-holder, or shareholder, as the case may be. [ Section 199(1) ] Any sum referred to in section 192(1A) and paid to the Central Government shall be treated as the tax paid on behalf of the person in respect of whose income such payment of tax has been made. [ Section 199(2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome-tax authority or the person authorised by such authority. [ Rule 37BA(1) ] Where under any provisions of the Act, the whole or any part of the income on which tax has been deducted at source is assessable in the hands of a person other than the deductee, credit for the whole or any part of the tax deducted at source, as the case may be, shall be given to the other person and not to the deducte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and paid to the Central Government, shall be given for the assessment year for which such income is assessable. Where tax has been deducted at source and paid to the Central Government and the income is assessable over a number of years, credit for tax deducted at source shall be allowed across those years in the same proportion in which the income is assessable to tax. [ Rule 37BA(3) ] For the pu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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