Meaning of person responsible for paying.
204. For the purposes of 21[the foregoing
provisions of this Chapter] and 22section 285, the expression person responsible for
paying means
(i) in the case of payments of income chargeable under the head
Salaries, other than payments by the Central Government or the Government of
a State, the employer himself or, if the employer is a company, the company
itself, including the principal officer thereof;
(ii) in the case of payments of income chargeable under the head
Interest on securities, other than payments made by or on behalf of the
Central Government or the Government of a State, the local authority,
corporation or company, including the principal officer thereof;
23[(iia) in the case of any sum payable to a
non-resident Indian, being any sum representing consideration for the transfer
by him of any foreign exchange asset, which is not a short-term capital asset,
the authorised dealer responsible for remitting such sum to the non-resident
Indian or for crediting such sum to his Non-resident (External) Account
maintained in accordance with the Foreign Exchange Regulation Act, 1973 (46 of
1973), and any rules made thereunder;]
(iii) 24[in the
case of credit, or, as the case may be, payment] of any other sum chargeable
under the provisions of this Act, the payer himself, or, if the payer is a
company, the company itself including the principal officer thereof.
25[Explanation.For
the purposes of this section,
(a) non-resident Indian and foreign exchange asset shall have the
meanings assigned to them in Chapter XII-A;
(b) authorised dealer26 shall have
the meaning assigned to it in clause (b) of section 2 of the Foreign
Exchange Regulation Act, 1973 (46 of 1973).]