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CHAPTER XIX

COLLECTION AND RECOVERY OF TAX

 

Interpretation

For the purposes of this Chapter,–

(1) “Administrator” shall have the same meaning as assigned to it insection 2(a) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002;

(2)“agricultural land” means agricultural land in India,–

(a)not being a land situatedin any area referred to in section 2(22)(iii),for the purposes of section 393(1)[Table: Sl. No. 3(i)];

(b) including a land situated in any area referred to in section 2(22)(iii), for the purposes of section 393(1)[Table: Sl. No. 3(iii)];

(3)“an incorrect claim apparent from any information in the statement” shall mean a claim, on the basis of an entry, in the statement— (a)of an item, which is inconsistent with another entry of the same

or some other item in such statement; (b)in respect of rate of deduction of tax at sourceor rate of collection of tax at source, where such rate is not as per the provisions of the Act;

(4)“authorised dealer” means a person authorised by the Reserve Bank of India under section 10(1) of the Foreign Exchange Management Act, 1999 to deal in foreign exchange or foreign security;

(5)“banking company” means a banking company to which the Banking Regulation Act, 1949 applies;

(6)“buyer” for the purposes of provisions in column Bof the Tablebelow means any person as specified in column Cbut does not include any person as specified in column D:—

 

S.No.

Provisions

Person

Person not to be included

A

B

C

D

1.

Purchase of goods referred to in section 393(1) [Table: Sl. No. 8(ii)].

A person whose total sales, gross receipts or turnover from the business carried on by him exceed ten crore rupees during the tax year

immediately preceding the tax year in which the purchase of goods is carried out.

Any person, as the Central Government may notify for this purpose, subject to conditions as may be specified therein.

2.

Sale of goods referred to in section 394(1) (Table: Sl. Nos. 1 to 5).

A person who obtains in any sale, by way of auction, tender or any other mode, goods of the nature specified in section 394(1) (Table: Sl. Nos. 1 to 5), or the right to receive any such goods

 

3.

Sale of

motor vehicle or any other goods referred to in section 394(1)  (Table:

Sl. No. 6).