TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2012 amends Income Tax Act Section 115-O: Changes to Dividend Tax Rules for Domestic Companies.</h1> Clause 53 of the Finance Bill, 2012, amends section 115-O of the Income-tax Act, affecting the tax on distributed profits of domestic companies. Effective from July 1, 2012, the amendment modifies sub-section (1A), clause (i) by inserting 'and' at the end of sub-clause (a) and revising sub-clause (b) to specify that the tax payable on dividends must be paid. Sub-clause (c) is omitted, removing the condition that the domestic company must not be a subsidiary of another company. This change ensures that dividends received from a subsidiary, on which tax is paid, are not taxed again when redistributed.
TaxTMI 
TaxTMI 
