Withholding tax exemption for corporation interest and dividends prevents tax deduction on payments to nationalised insurance entities. Deduction of income-tax not to be made on interest or dividend payable to the Corporation and successor companies: the amendment provides that no income-tax shall be deducted at source from interest or dividends paid to the Corporation or to new companies formed under the nationalisation scheme in respect of securities or shares in which those entities have full beneficial interest, notwithstanding previously applicable withholding provisions.
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.
Withholding tax exemption for corporation interest and dividends prevents tax deduction on payments to nationalised insurance entities.
Deduction of income-tax not to be made on interest or dividend payable to the Corporation and successor companies: the amendment provides that no income-tax shall be deducted at source from interest or dividends paid to the Corporation or to new companies formed under the nationalisation scheme in respect of securities or shares in which those entities have full beneficial interest, notwithstanding previously applicable withholding provisions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
