S.L. 372.14 Art. 17Tax over-deducted and remitted by payers.

Where the payer has deducted tax at a rate or by an amount higher than that applicable under these rules and in consequence excess by tax has been deducted and also remitted to the Commissioner, and such over-deduction and over-remittance becomes known to the payer, he shall make immediately a payment to the payee out of his own funds of an amount corresponding to such excess: Provided that where the circumstances of the case warrant an adjustment, and repayment to the payee has been made to the satisfaction of the Commissioner, the payer shall, on the occasion of the next remittance to the Commissioner, be entitled to set off and recoup, from the total amount of tax to be remitted to the Commissioner, an amount corresponding to that so repaid to the payee or to claim a refund of the said amount from the Commissioner.

Records to be kept and information to be forwarded by payers