Where the Assessing Officer is satisfied that the total income of the buyer or licensee or lessee justifies the collection of the tax at any lower rate than the relevant rate specified in, Section 206C (1) or (1C), then the Assessing Officer shall, on an Application made by the buyer or licensee or lessee in this behalf, give to him a certificate for collection of tax at such lower rate. Following are noticeable in this respect:

1. The certificate given as provided above shall be valid for the assessment year specified in that certificate, unless it is cancelled by the Assessing Officer at any time before the expiry of the specified period.

2. An application for a fresh certificate may be made, if required, after the expiry of the period of validity of the earlier certificate.

3. The certificate shall be valid only for the person named therein.

4. The certificate shall be issued direct to the person responsible for collecting the tax under advice to the buyer who made an application for issue of such certificate.