Insertion of new section 206AA
Section 69 of the Finance Act, 2009 deals with insertion of new section 206AA. Insertion of new section 206AA. 69. After section 206A of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2010, namely:— "206AA.
Insertion of new section 206AA.
69. After section 206A of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2010, namely:—
"206AA. Requirement to furnish Permanent Account Number.—(1) Notwithstanding anything contained in any other provisions of this Act, any person entitled to receive any sum or income or amount, on which tax is deductible under Chapter XVIIB (hereafter referred to as deductee) shall furnish his Permanent Account Number to the person responsible for deducting such tax (hereafter referred to as deductor), failing which tax shall be deducted at the higher of the following rates, namely:—
(i ) at the rate specified in the relevant provision of this Act; or
(ii ) at the rate or rates in force; or
(iii ) at the rate of twenty per cent.
(2) No declaration under sub-section (1) or sub-section (1A) or sub-section (1C) of section 197A 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 deductor shall deduct the tax at source in accordance with the provisions of sub-section (1).
(4) No certificate under section 197 shall be granted unless the application made under that section contains the Permanent Account Number of the applicant.
(5) The deductee shall furnish his Permanent Account Number to the deductor 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 deductor is invalid or does not belong to the deductee, it shall be deemed that the deductee has not furnished his Permanent Account Number to the deductor and the provisions of sub-section (1) shall apply accordingly.".
© Copyright. Taxmann Publications Pvt. Ltd.
Section 69, The Finance Act, 2009.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 69
What does Section 69 of the Finance Act deal with?
Section 69 of the Finance Act is headed "Insertion of new section 206AA". Insertion of new section 206AA. 69. After section 206A of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2010, namely:— "206AA.
How do I find court cases under Section 69 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2009 69, section 69 Finance Act 2009, section 69 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 69 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 206A (Furnishing of statement in respect of payment of any income to residents without deduction of tax), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2009. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- 102120000000010168. THE FIRST SCHEDULE7194 words
- 2. Income-tax2915 words
- 13. Insertion of new section 35AD1148 words
- 61. Substitution of new section for section 194C936 words
- 37. Amendment of section 80-IB761 words
- 56. Insertion of new section 144C751 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.