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Report No. 12

166. Information & returns.-

(1) The person responsible for paying any interest, not being "Interest on securities", shall, on or before the fifteenth day of June in each year, furnish to the Income-tax Officer having jurisdiction to assess him, a return, in the prescribed form and verified in the prescribed manner, of the names and addresses of all persons to whom during the previous financial year he has paid interest or aggregate interest exceeding such amount, not being less than four hundred rupees, as may be prescribed in this behalf, together with the amount paid to each such person.

[Section 20A, rules 42A and 43A]

(2) The prescribed person in the case of every Government office, and the principal officer or the prescribed person in the case of every local authority, company or other public body or association, and every private employer shall prepare, and within thirty days from the 31st day of March in each year, deliver or cause to be delivered to the Income-tax Officer in the prescribed form and verified in the prescribed manner, a return in writing showing-

(a) the name and, so far as it is known, the address, of every person who was receiving on the 31st day of March, or has received or to whom was due during the year ending that date, from the Government, the authority, company, body, association or private employer, as the case may be, any income chargeable under the head "Salaries" of such amount as may be prescribed;

(b) the amount of the income so received by or so due to each such person, and the time or times at which the same was paid or due, as the case may be;

(c) the amount deducted in respect of income-tax and super-tax from the income of each such person.

[Section. 21]

(3) Where an employer deducts from the emoluments paid to an employee or pays on his behalf any contributions of that employee to an approved superannuation fund, he shall include all such deductions or payments in the return which he is required to furnish under sub-section (2), as provided by section 314 [58T],

[Section 58T]

(4) The principal officer of every company which is an Indian company or a company which has made such effective arrangements as may be prescribed for the declaration and payment of dividends in India shall, on or before the 15th day of June in each year, furnish to the prescribed officer a return in the prescribed form and verified in the prescribed manner of the names and of the addresses, as entered in the register of shareholders maintained by the company, of the shareholders to whom a dividend or aggregate dividends exceeding such amount as may be prescribed in this behalf has or have been distributed during the preceding year and of the amount so distributed to each share-holder.

[Section 19A]



Income-Tax Act, 1922 Back




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