Income Tax Act, 2025
Section 4: Ins. by Act 23 of 2012, s. 81 (w.e.f. 12012).
4. Ins. by Act 23 of 2012, s. 81 (w.e.f. 12012).
5. The words “, other than a person referred to in sub-section (1D),” omitted by Act 7 of 2017, s. 72 (w.e.f. 12017).
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(ii) has taken into account such amount for computing income in such return of income; and
(iii) has paid the tax due on the income declared by him in such return of income,
and the person furnishes a certificate to this effect from an accountant in such form as may be prescribed:]
1[Provided further that] no penalty shall be charged under section 221 from such person unless the
Assessing Officer is satisfied that the person has without good and sufficient reasons failed to collect and
pay the tax.]
(7) Without prejudice to the provisions of sub-section (6), if the 2[person responsible for collecting
tax] does not collect the tax or after collecting the tax fails to pay it as required under this section, he shall
be liable to pay simple interest at the rate of 3[one per cent.] per month or part thereof on the amount of
such tax from the date on which such tax was collectible to the date on which the tax was actually paid
4[and such interest shall be paid before furnishing the quarterly statement for each quarter in accordance
with the provisions of sub-section (3)]:
5[Provided that in case any person6***responsible for collecting tax in accordance with the provisions
of this section, fails to collect the whole or any part of the tax on the amount received from a buyer or
licensee or lessee or on the amount debited to the account of the buyer or licensee or lessee but is not
deemed to be an assessee in default under the first proviso of sub-section (6A), the interest shall be
payable from the date on which such tax was collectible to the date of furnishing of return of income by
such buyer or licensee or lessee.]
(8) Where the tax has not been paid as aforesaid, after it is collected, the amount of the tax together
with the amount of simple interest thereon referred to in sub-section (7) shall be a charge upon all the
assets of the 2[person responsible for collecting tax].]
7[(9) Where the Assessing Officer is satisfied that the total income of the 8[buyer or licensee or lessee]
justifies the collection of the tax at any lower rate than the relevant rate specified in sub-section (1) 9[or
sub-section (1C)] 10***, the Assessing Officer shall, on an application made by the buyer or licensee or
lessee in this behalf, give to him a certificate for collection of tax at such lower rate than the relevant rate
specified in sub-section (1) 9[or sub-section (1C)] 10***.
(10) Where a certificate under sub-section (9) is given, the person responsible for collecting the tax
shall, until such certificate is cancelled by the Assessing Officer, collect the tax at the rates specified in
such certificate.
has taken into account such amount for computing income in such return of income; and
has paid the tax due on the income declared by him in such return of income,
and the person furnishes a certificate to this effect from an accountant in such form as may be prescribed:]
1[Provided further that] no penalty shall be charged under section 221 from such person unless the
Assessing Officer is satisfied that the person has without good and sufficient reasons failed to collect and
pay the tax.]
Without prejudice to the provisions of sub-section
Where the tax has not been paid as aforesaid, after it is collected, the amount of the tax together
with the amount of simple interest thereon referred to in sub-section
shall be a charge upon all the
assets of the 2[person responsible for collecting tax].]
7[
Where the Assessing Officer is satisfied that the total income of the 8[buyer or licensee or lessee]
justifies the collection of the tax at any lower rate than the relevant rate specified in sub-section
9[or
sub-section
9[or sub-section
Where a certificate under sub-section
is given, the person responsible for collecting the tax
shall, until such certificate is cancelled by the Assessing Officer, collect the tax at the rates specified in
such certificate.