Tax on distributed profits: dividends to New Pension System Trust and taxed subsidiary receipts reduce the taxable base. The substituted sub-section (1A) reduces the amount subject to tax on distributed profits by dividends received from a subsidiary where that subsidiary has paid tax under the section and the recipient is not itself a subsidiary, ensuring no double reduction; it further reduces that amount by dividends paid to any person for, or on behalf of, the New Pension System Trust, and clarifies that a subsidiary means one whose nominal equity share capital is more than half held by another company.
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Provisions expressly mentioned in the judgment/order text.
Tax on distributed profits: dividends to New Pension System Trust and taxed subsidiary receipts reduce the taxable base.
The substituted sub-section (1A) reduces the amount subject to tax on distributed profits by dividends received from a subsidiary where that subsidiary has paid tax under the section and the recipient is not itself a subsidiary, ensuring no double reduction; it further reduces that amount by dividends paid to any person for, or on behalf of, the New Pension System Trust, and clarifies that a subsidiary means one whose nominal equity share capital is more than half held by another company.
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