https://www.taxtmi.com/circulars?id=10105 The Board clarifies that the additional tax on dividends applies to the excess portion over the prescribed proportion of paid up equity and must be imposed in the year in which the excess distribution is actually made rather than in the year of declaration. Officers are to issue instructions accordingly and carry out a priority review of completed assessments to identify cases where the levy was charged in the year of declaration, reporting results to the Board. en-us Thu, 13 Sep 1973 00:00:00 +0530 Fri, 17 Jun 2011 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10105 The Board clarifies that the additional tax on dividends applies to the excess portion over the prescribed proportion of paid up equity and must be imposed in the year in which the excess distribution is actually made rather than in the year of declaration. Officers are to issue instructions accordingly and carry out a priority review of completed assessments to identify cases where the levy was charged in the year of declaration, reporting results to the Board. Circulars Income Tax Thu, 13 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10105