https://www.taxtmi.com/article/detailed?id=1021 The Code defines dividend to encompass distributions of accumulated profits, distributions of debentures or bonus preference shares, liquidation or capital-reduction distributions attributable to accumulated profits, and certain payments or loans by closely-held companies to substantial shareholders or related concerns. Exclusions include ordinary-course lending advances, set-offs of earlier taxable dividend advances, statutory share buybacks, and demerger share distributions. Every domestic company must pay dividend distribution tax on dividends declared, distributed or paid, with the company or its principal officer liable to remit the tax within a prescribed short period; the tax is final, non-deductible, and late payment attracts default treatment and interest. en-us Fri, 19 Nov 2010 00:00:00 +0530 Fri, 19 Nov 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1021 The Code defines dividend to encompass distributions of accumulated profits, distributions of debentures or bonus preference shares, liquidation or capital-reduction distributions attributable to accumulated profits, and certain payments or loans by closely-held companies to substantial shareholders or related concerns. Exclusions include ordinary-course lending advances, set-offs of earlier taxable dividend advances, statutory share buybacks, and demerger share distributions. Every domestic company must pay dividend distribution tax on dividends declared, distributed or paid, with the company or its principal officer liable to remit the tax within a prescribed short period; the tax is final, non-deductible, and late payment attracts default treatment and interest. Articles Income Tax Fri, 19 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=1021