Tax Collection at Source in case of Parking Lots, Toll Plaza or Mining and Quarrying

Every person, who grants a lease or a licence or enters into a contract or otherwise transfers any right or interest either in whole or in part in any parking lot or toll plaza or mine or quarry, to another person, other than a public sector company (here referred to as licensee or lessee) for the use of such parking lot or toll plaza or mine or quarry for the purpose of business shall either:

• At the time of debiting of the amount payable by the licensee or lessee to the account of the licensee or lessee; or
  
  

• At the time of receipt of such amount from the licensee or lessee in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier

collect from the licensee or lessee of any such licence, contract or lease 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 to be collected at source.