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

(2) Except 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 must be deposited in accordance with this clause.