Dividend distribution tax rate increased under amended section 115-O, raising tax on corporate distributed profits. The Finance Act amends the Income-tax provision governing dividend distribution tax by substituting the earlier rate expression in the relevant sub-section with a higher rate expression, thereby changing the statutory rate applicable to dividends declared and distributed by companies.
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Dividend distribution tax rate increased under amended section 115-O, raising tax on corporate distributed profits.
The Finance Act amends the Income-tax provision governing dividend distribution tax by substituting the earlier rate expression in the relevant sub-section with a higher rate expression, thereby changing the statutory rate applicable to dividends declared and distributed by companies.
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