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Form of certificate from an accountant under Section 201(1) and 206C(6A) prescribed

Written By Admin on Sunday, 21 October 2012 | Sunday, October 21, 2012


The Finance Act, 2012 had inserted proviso to Section 201(1) which provides that any person who fails to deduct the whole or any part of the tax in accordance with the provisions of chapter XVII on the sum paid to a resident or on the sum credited to the account of a resident, shall not be deemed to be assessee in default in respect of such tax if he furnishes a certificate from an accountant, in such form as may be prescribed, to the effect that such resident has furnished his return of income under Section 139 taking into account such sum for computing income in such return of income and has paid the tax due on the income declared by him in such return of income.

Corresponding amendments have also been made by the Finance Act, 2012 in the Section 206C(6A) regarding collection of tax at source. In exercise of the powers conferred by Section 295 of the Income-tax Act, 1961, the Central Board of Direct Taxes, has through this notification, notified Income-tax (11th Amendment) Rules, 2012 to provide for the Form in which the report of the accountant is to be furnished.

Accordingly, following rules have been inserted:

1.     Rule  31ACB   The  certificate  from  an accountant under the first proviso to sub-section (1) of section 201 shall be furnished in Form No. 26A.

2.     Rule 37J The certificate from an accountant under first proviso to sub-section (6A) of Section 206C shall be furnished in Form No. 27BA The said Forms have been inserted in Appendix-II of the Income-tax Rules, 1962.

[Notification No. 37/2012, dated 12-09-2012] 

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