62. Credit of tax deducted or collected at source.-
Any deduction or collection of tax made and paid to the account of the Government in accordance with the provisions of this Chapter shall be treated as a payment of tax on behalf of the person from whose income the deduction or collection was made, or of the owner of the security or of the shareholder, as the case may be, and credit shall be given to him therefor on the production of the certificate furnished 1[,along with the proof of payment of such tax to the account of the Government,] under section 58 in the assessment, if any, made for the following year under this Ordinance:
Provided that, if such person or such owner obtains, in accordance with the provisions of this Ordinance, a refund of any portion of the tax so deducted, no credit shall be given for the amount of such refund:
Provided further that where such person or owner is a person whose income is included under the provisions of section 43 (4) or (5) or section 104 or 105 or 106 in the total income of another person, such other person shall be deemed to be the person or owner on whose behalf payment has been made and to whom credit shall be given in the assessment for the following year.
1[provided futher that , notwithstanding the provisions of this section, if such person derives income exempted under section 45,credit of tax deducted or collected at source shall be given to him for the assessment year following next after the expiry of the period of exemption allowed under the said section.]
1 Ins. by F.A 2016
2 Ins. by F.A. 1992 subsequently omitted by F.A. 1993
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