Tax deduction exemption for interest and dividend payments to the Corporation overrides withholding provisions under income-tax rules. The amendment inserts a provision that, notwithstanding the usual withholding provisions, no income-tax shall be deducted from interest or dividend payable to the Corporation in respect of securities or shares owned by it or in which it has full beneficial interest, creating a targeted exemption from deduction-at-source for those receipts.
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 deduction exemption for interest and dividend payments to the Corporation overrides withholding provisions under income-tax rules.
The amendment inserts a provision that, notwithstanding the usual withholding provisions, no income-tax shall be deducted from interest or dividend payable to the Corporation in respect of securities or shares owned by it or in which it has full beneficial interest, creating a targeted exemption from deduction-at-source for those receipts.
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