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<h1>Understanding Section 2(22)(b): Dividend Definition Includes Debenture Distributions and Bonus Shares, Taxed at 15% Under Section 115O.</h1> Section 2(22)(b) of the Income Tax Act defines dividend to include any distribution by a company to its shareholders of debentures, debenture-stock, or deposit certificates, with or without interest, and any distribution of bonus shares to preference shareholders, to the extent of the company's accumulated profits. This deemed dividend is chargeable to the company at a Dividend Distribution Tax (DDT) rate of 15% under Section 115O, and it is exempt for shareholders.
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