1. Inserted by the Finance (No. 2) Act, 1977, w. e. f. 1- 10- 1977.

2. See rule 37B and Form No. 27B.

3. Substituted for' Income- tax' by the Direct Tax Laws (Amendment) Act, 1987, w. e. f. 1- 4- 1988.

4. Inserted by the Finance Act, 1988, w. e. f. 1- 6- 1986.

7. Substituted by the Finance Act, 1992, w. e. f. 1- 4- 1992. Prior to the substitution, subsection (1) read as under:" (1) Every person, being a seller referred to in section 44AC, shall, at the time of debiting of the amount payable by the buyer refer- red to in that section to the account of the buyer or at the time of receipt of such amount from the, said buyer in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, collect from the buyer of any goods of the nature specified in column (2) of the Table below, a sum equal to the percentage, specified in the corresponding entry in column (3) of the said Table, of such amount as income- tax on income comprised therein. Table S. No. Nature of goods Percentage (1) (2) (3) (i) Alcoholic liquor for human consumption (other than Indian made foreign liquor) Fifteen per cent (ii) Timber obtained under a forest lease Fifteen per cent (iii) Timber obtained by any mode other than Five per cent under a forest lease (iv) Any other forest produce not being timber Fifteen per cent: Provided that where the Assessing Officer, on an application made by the buyer, gives a certificate in the prescribed form that to the best of his belief any of the goods refer- red to in the aforesaid Table are to be utilised for the purposes of manufacturing, processing or producing articles or things and not, for trading purposes, the provisions of this sub- section shall not apply so long as the certificate is in force." Earlier, the italicised word was substituted for" Ten" by the Direct Tax Laws (Amendment) Act, 1989, w. r. e. f. 1- 6- 1988.