L
1678 Points
Joined June 2007
U/s. 192 - Any person responsible for paying any income chargeable under the head “Salaries” shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in force for the financial year in which the payment is made, on the estimated income of the assessee under this head for that financial year.
On failure -
such person shall be liable to pay, by way of penalty, a sum equal to theU/s. 271 C -deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B; amount of tax which such person failed to deduct or pay