Advance tax interest exemption: dividend income included with capital gains, altering applicability of deferment interest. Amendment to section 234C substitutes clause (d) of the first proviso to include dividend income with capital gains so that shortfalls from under estimating or failing to estimate dividend do not attract interest; an Explanation defines 'dividend' by reference to clause (22) of section 2 excluding sub clause (e). The change takes effect from 1 April 2021 and applies to the assessment year 2021 2022 and subsequent years.
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Provisions expressly mentioned in the judgment/order text.
Advance tax interest exemption: dividend income included with capital gains, altering applicability of deferment interest.
Amendment to section 234C substitutes clause (d) of the first proviso to include dividend income with capital gains so that shortfalls from under estimating or failing to estimate dividend do not attract interest; an Explanation defines "dividend" by reference to clause (22) of section 2 excluding sub clause (e). The change takes effect from 1 April 2021 and applies to the assessment year 2021 2022 and subsequent years.
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