Dividend distribution tax amendment expands source to include income accumulated by International Financial Services Centre units. Amendment to section 115-O(8) replaces the words 'out of its current income' with words expressly including income accumulated as a unit of International Financial Services Centre after 1 April 2017, thereby treating distributions as capable of arising from income held within an IFSC unit; the substitution takes effect from 1 September 2019.
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.
Dividend distribution tax amendment expands source to include income accumulated by International Financial Services Centre units.
Amendment to section 115-O(8) replaces the words "out of its current income" with words expressly including income accumulated as a unit of International Financial Services Centre after 1 April 2017, thereby treating distributions as capable of arising from income held within an IFSC unit; the substitution takes effect from 1 September 2019.
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