Dividend income from Indian companies is taxable as income from other sources, including certain deemed dividend distributions. Dividend received from an Indian company is chargeable in the hands of the shareholder under the head Income from Other Sources. Under the stated provisions, dividend includes deemed dividend arising from specified distributions to the extent of accumulated profits, including release of company assets, debentures, deposit certificates, bonus shares, liquidation distributions, reduction of capital, and loans or advances to significant shareholders and related concerns.