Amendment to dividend distribution tax removes exception for certain exempt entities, narrowing exemption scope under income tax. Amendment removes an exception in the dividend distribution tax regime by deleting the phrase excluding certain exempt entities from the charging provision of section 115-O, thereby subjecting distributions by such entities to the dividend distribution tax framework under the Income-tax Act, effective from the commencement date specified in the amending enactment.
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Provisions expressly mentioned in the judgment/order text.
Amendment to dividend distribution tax removes exception for certain exempt entities, narrowing exemption scope under income tax.
Amendment removes an exception in the dividend distribution tax regime by deleting the phrase excluding certain exempt entities from the charging provision of section 115-O, thereby subjecting distributions by such entities to the dividend distribution tax framework under the Income-tax Act, effective from the commencement date specified in the amending enactment.
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