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of <h1>Finance Bill 2018 amends section 115-O, raising tax to 30% on specific dividends, changes effective April 1, 2018.</h1> Clause 38 of the Finance Bill, 2018 proposes amendments to section 115-O of the Income-tax Act concerning the tax on distributed profits of domestic companies. The amendment introduces a proviso to sub-section (1), increasing the tax rate to thirty percent for dividends specified under sub-clause (e) of clause (22) of section 2. Additionally, a proviso to sub-section (1B) is introduced, excluding these dividends from the grossing-up provisions. These changes are effective from April 1, 2018.
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