- For the purposes of [the foregoing provisions of this Chapter] [ Substituted by Act 23 of 2004, Section 47, for certain words (w.e.f. 1.10.2004).] and section 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;(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;] [ Inserted by Act 23 of 1986, Section 32 (w.e.f. 1.6.1988).](iii)[in the case of credit, or, as the case may be, payment] [ Substituted by Act 20 of 1967, Section 30, for " in the case of payment" (w.r.e.f. 1.4.1967).] or 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.[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 dealer" shall have the meaning assigned to it in clause (b) of section 2 of the Foreign Exchange Regulation Act, 1973 (46 of 1973).]
