{"act":{"id":"finance-act-2017","short_title":"The Finance Act, 2017","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2017-2018.","act_number":null,"act_year":2017,"enact_date":"2017-04-17","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":198,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2017/"},"unit":"section","section":{"number":"73","heading":"Insertion of new section 206CC","text":"Insertion of new section 206CC. 73. After section 206CB of the Income-tax Act, the following section shall be inserted, namely:— '206CC. Requirement to furnish Permanent Account number by collectee.—(1) Notwithstanding anything contained in any other provisions of this Act, any person paying any sum or amount, on which tax is collectible at source under Chapter XVII-BB (herein referred to as collectee) shall furnish his Permanent Account Number to the person responsible for collecting such tax (herein referred to as collector), failing which tax shall be collected at the higher of the following rates, namely:— (i) | at twice the rate specified in the relevant provision of this Act; or (ii) | at the rate of five per cent. (2) No declaration under sub-section (1A) of section 206C shall be valid unless the person furnishes his Permanent Account Number in such declaration. (3) In case any declaration becomes invalid under sub-section (2), the collector shall collect the tax at source in accordance with the provisions of sub-section (1). (4) No certificate under sub-section (9) of section 206C shall be granted unless the application made under that section contains the Permanent Account Number of the applicant. (5) The collectee shall furnish his Permanent Account Number to the collector and both shall indicate the same in all the correspondence, bills, vouchers and other documents which are sent to each other. (6) Where the Permanent Account Number provided to the collector is invalid or does not belong to the collectee, it shall be deemed that the collectee has not furnished his Permanent Account Number to the collector and the provisions of sub-section (1) shall apply accordingly. (7) The provisions of this section shall not apply to a non-resident who does not have permanent establishment in India. Explanation.—For the purposes of this sub-section, the expression \"permanent establishment\" includes a fixed place of business through which the business of the enterprise is wholly or partly carried on.'.","html":"<p><b> Insertion of new section 206CC.</b></p><p><b> 73.</b> After section 206CB of the Income-tax Act, the following section shall be inserted, namely:—</p><p>'206CC. <i>Requirement to furnish Permanent Account number by collectee.</i>—(1) Notwithstanding anything contained in any other provisions of this Act, any person paying any sum or amount, on which tax is collectible at source under Chapter XVII-BB (herein referred to as collectee) shall furnish his Permanent Account Number to the person responsible for collecting such tax (herein referred to as collector), failing which tax shall be collected at the higher of the following rates, namely:—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>at twice the rate specified in the relevant provision of this Act; or</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>at the rate of five per cent.</td></tr></table></div><p><span class=\"num\">(2)</span> No declaration under sub-section (1A) of section 206C shall be valid unless the person furnishes his Permanent Account Number in such declaration.</p><p><span class=\"num\">(3)</span> In case any declaration becomes invalid under sub-section (2), the collector shall collect the tax at source in accordance with the provisions of sub-section (1).</p><p><span class=\"num\">(4)</span> No certificate under sub-section (9) of section 206C shall be granted unless the application made under that section contains the Permanent Account Number of the applicant.</p><p><span class=\"num\">(5)</span> The collectee shall furnish his Permanent Account Number to the collector and both shall indicate the same in all the correspondence, bills, vouchers and other documents which are sent to each other.</p><p><span class=\"num\">(6)</span> Where the Permanent Account Number provided to the collector is invalid or does not belong to the collectee, it shall be deemed that the collectee has not furnished his Permanent Account Number to the collector and the provisions of sub-section (1) shall apply accordingly.</p><p><span class=\"num\">(7)</span> The provisions of this section shall not apply to a non-resident who does not have permanent establishment in India.</p><p><i>Explanation</i>.<i>—</i>For the purposes of this sub-section, the expression \"permanent establishment\" includes a fixed place of business through which the business of the enterprise is wholly or partly carried on.'.</p>","words":321,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2017/section/73/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}