Dividend distribution tax regime applied to domestic companies, with tax on distributed profits, deemed dividends, and specified exemptions. Additional income-tax on distributed profits under the old dividend distribution tax regime applied only to domestic companies in respect of dividends declared, distributed or paid on or after 1 April 2003 and on or before 31 March 2020. The charge operated as a non-obstante provision and covered dividends paid out of current profits, retained earnings, reserves or accumulated profits. The tax was payable by the company at the prescribed rate, with payment required within fourteen days from the earliest of declaration, distribution or payment of the dividend. Certain deemed dividends were also within the regime and attracted tax at a higher rate.
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.
Dividend distribution tax regime applied to domestic companies, with tax on distributed profits, deemed dividends, and specified exemptions.
Additional income-tax on distributed profits under the old dividend distribution tax regime applied only to domestic companies in respect of dividends declared, distributed or paid on or after 1 April 2003 and on or before 31 March 2020. The charge operated as a non-obstante provision and covered dividends paid out of current profits, retained earnings, reserves or accumulated profits. The tax was payable by the company at the prescribed rate, with payment required within fourteen days from the earliest of declaration, distribution or payment of the dividend. Certain deemed dividends were also within the regime and attracted tax at a higher rate.
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 
