Withholding tax on dividends and specified foreign receipts: flat-rate taxation, limited deductions, and restricted return obligations. Amendment prescribes flat-rate taxation on specified non-resident incomes-dividends, certain foreign currency interest, units of designated mutual funds, and for foreign companies, royalty and fees for technical services-by aggregating flat-rate tax on those receipts with tax on remaining income after reducing total income by such receipts; it prohibits deductions under sections 28-44C and 57 for such income, constrains Chapter VI-A deductions by reducing gross total income by the specified amounts, and exempts certain assessees from filing returns where only such incomes arise and tax has been deducted at source.
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 on dividends and specified foreign receipts: flat-rate taxation, limited deductions, and restricted return obligations.
Amendment prescribes flat-rate taxation on specified non-resident incomes-dividends, certain foreign currency interest, units of designated mutual funds, and for foreign companies, royalty and fees for technical services-by aggregating flat-rate tax on those receipts with tax on remaining income after reducing total income by such receipts; it prohibits deductions under sections 28-44C and 57 for such income, constrains Chapter VI-A deductions by reducing gross total income by the specified amounts, and exempts certain assessees from filing returns where only such incomes arise and tax has been deducted at source.
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