Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Tax on distributed income: mutual funds and specified companies must pay additional tax on distributions to unit holders. Section 115R subjects income distributed by the Unit Trust of India, specified companies and Mutual Funds to additional income-tax at specified rates according to fund type and recipient; subsection (2A) mandates grossing up of the distributed amount for tax computation. The distributor and the person effecting payment are jointly liable to deposit the additional tax to the Central Government within fourteen days of distribution or payment. No deduction is permitted to distributing entities for income charged to tax under this section, and the section sets out targeted exemptions and definitional rules including provisions for infrastructure debt funds and specified Mutual Funds operating from an International Financial Services Centre.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax on distributed income: mutual funds and specified companies must pay additional tax on distributions to unit holders.
Section 115R subjects income distributed by the Unit Trust of India, specified companies and Mutual Funds to additional income-tax at specified rates according to fund type and recipient; subsection (2A) mandates grossing up of the distributed amount for tax computation. The distributor and the person effecting payment are jointly liable to deposit the additional tax to the Central Government within fourteen days of distribution or payment. No deduction is permitted to distributing entities for income charged to tax under this section, and the section sets out targeted exemptions and definitional rules including provisions for infrastructure debt funds and specified Mutual Funds operating from an International Financial Services Centre.
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