141. Statement regarding interest, profit, rent, etc.-

Every person responsible for paying any interest (including interest on securities), profit in respect of a profit and loss sharing account or deposit with a banking company, brokerage, commission, rent, or professional fee (exceeding such amount as may be prescribed) on behalf of Government, a local authority, company, a foreign contractor consultant or consortium shall, furnish to the Deputy Commissioner or any other officer authorised in this behalf by the Central Board Of Revenue, a statement in the prescribed manner, showing-

(a)   the name and address of every person to whom such interest, profit, brokerage, commission, rent or professional fee, was paid during the the period for which each statement is being furnished;

(b)   the total amount of such interest, profit, brokerage, commission, rent or professional fee was paid to such person;

(c)   the date on which such payment was made; and

(d)   such other particulars as may be prescribed-

Explanation. - As used in this section,-

(2)    "Professional fee" includes fee paid for services performed by a doctor, architect, lawyer, Chartered Accountant or a Management and Cost Accountant, and such other person as may be prescribed.