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44. Amendment of section 203. |
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—In section 203 of the Income-tax Act, in sub-section (3), for the figures, letters and words "1st day of April, 2008", the figures, letters and words "1st day of April, 2010" shall be substituted.
Clause 44 seeks to amend section 203 of the Income-tax Act, which relates to certificate for tax deducted.
Sub-section (3) of the said section provides that on or after 1st April, 2008, there would be no requirement of furnishing—
(i) certificate of tax deducted at source; or
(ii) certificate of any sum paid as tax to the Central Government by the employer on any non-monetary perquisite to the employee.
The proposed amendment substitutes the said date with 1st April, 2010 so as to provide that up to 31st March, 2010–
(i) the person deducting tax shall continue to furnish a certificate of tax deducted at source to the person on whose behalf deductions were made; and
(ii) an employer shall continue to furnish a certificate of tax paid on any non-monetary perquisite to the employee.
This amendment will take effect from 1st April, 2008.
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