https://www.taxtmi.com/acts?id=11764 Clause 109 requires domestic companies to pay dividend distribution tax on any dividend declared, distributed or paid to shareholders at the rate specified in the Second Schedule, allowing reduction only for dividends received from subsidiaries that have already paid tax. The company or the principal officer must remit the tax within fourteen days of declaration, distribution or payment, the tax is final with no deduction or credit allowed, failure to pay results in assessment as an assessee in default and attracts interest for delayed payment. The provision applies even where no income-tax is payable on the company's total income. en-us Fri, 17 Sep 2010 10:17:04 +0530 Fri, 17 Sep 2010 10:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11764 Clause 109 requires domestic companies to pay dividend distribution tax on any dividend declared, distributed or paid to shareholders at the rate specified in the Second Schedule, allowing reduction only for dividends received from subsidiaries that have already paid tax. The company or the principal officer must remit the tax within fourteen days of declaration, distribution or payment, the tax is final with no deduction or credit allowed, failure to pay results in assessment as an assessee in default and attracts interest for delayed payment. The provision applies even where no income-tax is payable on the company's total income. Act-Rules Bills Fri, 17 Sep 2010 10:17:04 +0530 https://www.taxtmi.com/acts?id=11764