Section 194F of Income Tax Act "Payments on account of repurchase of units by Mutual Fund or Unit Trust of India"
Section 194F. The person responsible for paying to any person any amount referred to in sub-section (2) of section 80CCB shall, at the time of payment thereof, deduct income-tax thereon at the rate of twenty per cent.
Section 194G of Income Tax Act "Commission, etc., on the sale of lottery tickets"
Section 194G. (1) Any person who is responsible for paying, on or after the 1st day of October, 1991 to any person, who is or has been stocking, distributing, purchasing or selling lottery tickets, any income by way of commission, remuneration or prize (by whatever name called) on such tickets in an amount exceeding one thousand rupees shall, at the time of credit of such income to the account of the payee or at the time of payment of such income in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of ten per cent.
For the purposes of this section, where any income is credited to any account, whether called "Suspense Account" or by any other name, in the books of account of the person liable to pay such income, such crediting shall be deemed to be credit of such income to the account of the payee and the provisions of this section shall apply accordingly.
What is the procedure of Assessment when section 184 not complied with? What is change in constitution of a firm? What is succession of one firm by another firm? Section 185, 187 and 188 of Income Tax Act 1961