Section 206A:
Furnishing of quarterly return in respect of payment of interest to residents without deduction of tax.
1(1) Any banking company or co-operative society or public company referred to in
the proviso to clause (i) of sub-section (3) of section 194A responsible for paying to a resident any
income 2
not exceeding ten thousand rupees, where the payer is a banking company or a co-operative
society, and five thousand rupees in any other case by way of interest (other than interest on securities),
shall prepare 3
such statements for such period as may be prescribed and deliver or cause to be delivered
to the prescribed income-tax authorityor the person authorised by such authority the quarterly returns as
aforesaid, in the prescribed form, verified in such manner and within such time as may be prescribed, on a
floppy, diskette, magnetic cartridge tape, CD-ROM or any other computer readable media.
(2) The Central Government may, by notification in the Official Gazette, require any person other
than a person mentioned in sub-section (1) responsible for paying to a resident any income liable for
deduction of tax at source under Chapter XVII, to prepare and deliver or cause to be delivered 4
such
statements in the prescribed form and verified in such manner and within such time as may be
prescribed, to the prescribed income-tax authority or the person authorised by such authority on a floppy,
diskette, magnetic cartridge tape, CD-ROM or any other computer readable media.
Notes:
1. Ins. by Act 18 of 2005, s. 52 (w.e.f. 1-6-2005).
2. Subs. by Act 22 of 2007, s. 60, for “not exceeding five thousand rupees” (w.e.f. 1-6-2007).
3. Subs. by Act 33 of 2009, s. 68, for “quarterly returns for the period ending on the 30th June, the 30th September, the 31st
December and the 31st March in each financial year” (w.e.f. 1-10-2009).
4. Subs. by s. 68, ibid., for “quarterly returns” (w.e.f. 1-10-2009).