(1) All sums deducted or collected under the provisions of this Part shall be deposited to the Government by the person making the deduction or collection within the prescribed time or in accordance with the directions given by the Board.

(2) Except the provisions as provided in this Act, no person shall, directly or indirectly, levy, withhold, deduct or collect any money as tax, and any money so levied, withheld, deducted or collected shall be deposited in accordance with this section.