Dividends

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....efore making any distribution or payment to a shareholder, 1[who is resident in India,] of any dividend within the meaning of sub-clause (a) or sub-clause (b) or sub-clause (c) or sub-clause (d) or sub-clause (e) 12[or sub-clause (f)] of clause (22) of section 2, deduct from the amount of such dividend, income-tax 2[****] 7[at the rate of ten per cent.] : 3[Provided that no such deduction shall b....

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....the Corporation) or to any of the four companies (hereafter in this proviso referred to as such company), formed by virtue of the schemes framed under sub-section (1) of section 16 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), in respect of any shares owned by the Corporation or such company or in which the Corporation or such company has full beneficial interest; (....

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....hareholder, being an individual, of a company in which the public are substantially interested, if- (a) the dividend is paid by such company by an account payee cheque; and (b) the amount of such dividend or, as the case may be, the aggregate of the amounts of such dividend distributed or paid or likely to be distributed or paid during the financial year by the company to the shareholder, does....

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....f the Finance Act, 1997 w.e.f. 01-06-1997 4. Substituted vide Section 73 of the Finance Act, 2003 w.e.f. 01-08-2002 before it was read as, "one thousand" 5. Inserted vide Section 73 of the Finance Act, 2003 w.e.f. 01-04-2003 6. Substituted vide Section 74 of the Finance Act, 2020 w.e.f. 01-04-2020 before it was read as, "in cash or before issuing any cheque or ....