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of <h1>Amendment to Section 115-O: Additional Tax on Dividends from Domestic Companies Effective April 2021 for Assessment Year 2021-22.</h1> Clause 59 of the Finance Bill, 2020, proposes an amendment to section 115-O of the Income-tax Act, which involves the tax on distributed profits of domestic companies. The amendment specifies that dividends declared, distributed, or paid by domestic companies from April 1, 2003, to March 31, 2020, are subject to additional income tax. This change will be effective from April 1, 2021, and will apply to the assessment year 2021-2022 and subsequent years.
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