1(1) Any deduction made in accordance with the foregoing provisions of this Chapter and paid to the Central Government shall be treated as a payment of tax on behalf of the person from whose income the deduction was made, or of the owner of the security, or of the depositor or of the owner of property or of the unit-holder, or of the shareholder, as the case may be.
(2) Any sum referred to in sub-section (1A) of section 192 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.
(3) The Board may, for the purposes of giving credit in respect of tax
deducted or tax paid in terms of the provisions of this Chapter, make such rules
as may be necessary, including the rules for the purposes of giving credit to a
person other than those referred to in sub-section (1) and sub-section (2) and
also the assessment year for which such credit may be given.
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1. Subs. by Act 18 of 2008, s. 45, for section 199 (w.e.f. 1-4-2008).
Section 195A Income payable net of tax
Section 196A Income in respect of units of non-residents
Section 196B Income from units
Section 196C Income from foreign currency bonds or shares of Indian company
Section 196D Income of Foreign Institutional Investors from securities
Section 197 Certificate for deduction at lower rate
Section 197A No deduction to be made in certain cases
Section 198 Tax deducted is income received