Person Responsible For Paying Taxes Deducted At Source [Section 204] | Ay 2019-20 Onwards

Written by KnowYourGST Team under GST

For purposes of deduction of tax at source the expression “person responsible for paying” means:

S No Nature of Income/Payment Person Responsible for Paying Tax
1 Salary (other than payment of salaries by the Central or State Government) i) the employer himself; or
ii) if the employer is a company, the company itself, including the principal officer thereof.
2 Interest on securities (other than payments by or on behalf of the Central or State Government) the local authority, corporation or company, including the principal officer thereof.
3 Any sum payable to a non-resident Indian, representing consideration for the transfer by him of any foreign exchange asset, which is not a short term capital asset the “Authorised Person” responsible for remitting such sum to the non-resident Indian or for crediting such sum to his Non-resident (External) Account maintained in accordance with the Foreign Exchange Management Act, 1999 and any rules made thereunder.
4 furnishing of information relating to payment to a non corporate non-resident, or to a foreign company, of any sum, whether or not chargeable under the provisions of this Act i) the payer himself; or
ii) if the payer is a company, the company itself including the principal officer thereof.
5 Credit/payment of any other sum chargeable under the provisions of the Act i) the payer himself; or
ii) if the payer is a company, the company itself including the principal officer thereof.
6 Credit/payment of any sum chargeable under the provisions of the Act made by or on behalf of the Central Government or the Government of a State. i) the drawing and disbursing officer; or
ii) any other person, by whatever name called, responsible for crediting, or as the case may be, paying such sum.
Author
Posted by CA Ankit Sharma under Income-Tax

I am CA, you can contact me for resolving all your tax queries. Reach me at ankitsharma1141@gmail.comContact

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