Income Tax Act, 1967.

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Method of collection of tax.

126.—On the making of any payment of any emoluments to which this Chapter applies, income tax shall, subject to this Chapter and subject to and in accordance with the regulations thereunder, be deducted or repaid by the person making the payment notwithstanding that—

(a) when the payment is made, the tax has not been imposed for the year or no assessment has been made in respect of the emoluments, or

(b) the emoluments are, in whole or in part, emoluments for some year of assessment other than that during which the payment is made.