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of <h1>Non-Investment Companies Can Apply for Reduced Dividend Distribution Under Section 107A of Income-tax Act 1964</h1> Section 107A of the Income-tax Act, introduced by the Finance Act of 1964, allows non-investment companies subject to section 104 to apply for a reduction in the minimum dividend distribution requirement. Companies can apply to the Board if they believe meeting the statutory distribution is unreasonable due to business development needs. Applications must be submitted within specified timeframes, accompanied by a fee. The Board may reduce the distribution requirement by up to 20% and determine the distribution timeline. The Board's decision is final, and no appeal is allowed against the Income-tax Officer's order if the Board has made a decision. The Central Government can exempt certain companies from these provisions.
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