Special Provisions relating to Tax on Distributed Profits of Domestic Companies

 

Table of Contents:

 

·         1.   [Section 115-O (1)]- Tax on Distributed Profits of Domestic Companies

·         2.   [Section 115-O (1A)]- Dividend received from Subsidiary Company to be reduced from the above Dividend to be Distributed

·         3.   [Section 115-O(1B)]- Dividend and Income Distribution Tax to be Grossed Up

·         4.   [Section 115-0 (6)]- No tax on Distributed Profits by an Undertaking or Enterprise engaged in Developing Operating and Maintaining a Special Economic Zone (SEZ):

·         5.   [Section 115-0 (7)]- Exemption from Dividend Distribution Tax (DDT) on Distribution made by a SPY to Business Trust

·         6. [Section 115-0 (8)]- No Dividend Distribution Tax (DDT) in case of a company being a unit of an International Financial Services Centre (IFSC) deriving income solely in convertible foreign exchange

·         7.   [Section 115-0 (3)]- Time Limit for Deposit of Additional Income-Tax:

·         8.   [Section 115-0 (4)]- Tax on Distributed Profits Not Allowed as Deduction:

·         9.   [Section 115P]- Interest payable for Non-payment of Tax by the Domestic Companies:

·         10. [Section 115Q]- When Companies Deemed to be in Default:

·         11. Penalty Under Section 271C:

·         12. Prosecution Under Section 276B:

·         13. [Section 10(34)]- Exemption of Dividend in the hands of Shareholders  :

 


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