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of <h1>Tax on Undistributed Dividends When Payouts Fall Below Prescribed Proportion, With Specified Exceptions and Exemptions</h1> Where an assessing officer finds that a company's dividends paid within twelve months after a previous year are below the prescribed proportion of its distributable income, the officer may order additional income-tax on the undistributed portion at specified rates varying by company type. The provision disallows such an order where dividend restraint is reasonable because of prior losses, very low profits, lack of revenue benefit, or where prescribed charitable institutional ownership exists. The Central Government may exempt classes of companies by notification, and specified categories-including certain manufacturing/mining/power companies and companies without prescribed domestic dividend arrangements-are excluded.
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