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>Omission of Section 105 narrows exceptions to Section 104 additional tax on companies' undistributed profits and distributions</h1> Section 105 has been omitted; formerly it provided special exceptions to orders under section 104 imposing additional income-tax on undistributed profits, exempting companies that distributed at least the statutory percentage (with relaxed thresholds for investment companies and a 10% tolerance for others). It also addressed situations where a company's return showed adequate distribution but an assessing officer's higher income arrived at excess, and where reassessment revealed a shortfall-requiring the company, on notice, to make further distribution within three months to meet the statutory percentage. Any such further distribution was not treated as affecting applicability of section 104 for the year in which it was made.
TaxTMI 
TaxTMI 
