close

CHAPTER XIV
 TAX DEDUCTED AT SOURCE

65. Form for tax deduction at source under section 59B

(1)  Any person deducting the amount as tax in accordance with the provisions of section 59B, shall pay such amount within a period of twenty-two days immediately succeeding the month during which the deduction was made, in Form 207, into a Government treasury
(2) A certificate under clause (b) of sub-section (5) of section 59B to be given by the Commissioner shall be in Form 701.
(3) Statement under clause(c) of sub-section (3) of section 59B to be furnished by the contractor or as a case may be, sub-contractor to the person responsible for paying specified sale price shall be in Form 702.
(4) (i) A person deducting the amount as tax shall issue a certificate under sub-section (8) of section 59B in Form 703 .
(ii) A person deducting the amount as tax shall issue serially and mechanically numbered Form 703 in duplicate. The copy marked ‘original’ shall be delivered to the contractor, or as the case may be, sub-contractor and the copy marked ‘duplicate’ shall be retained by such person;(iii) A person deducting the amount as tax shall maintain for each year separate account in Form-705, showing the amount of tax deducted, certificate of tax deduction issued, and the particulars of remittances made to the Government treasury.
(5) Any person deducting the amount as tax in accordance with the provisions of section 59B, shall furnish a quarterly declaration in Form-704 within thirty days from the end of the quarter ending on 30th June, 30th September, 31st December and 31st March on the website of the department .
(6) Every payment of tax deducted at source under section 59B shall be accompanied by a chalan in Form 207.
(7) The provisions of rules 19 and 26 shall mutatis mutandis apply to the payment and the declaration made under this rule.