Tax on dividends distributed

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Full Text of the Document

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....ax, at the rate specified in Paragraph B of The Second Schedule and in the manner provided therein, on any amount declared by the company by way of dividends. (2) The amount referred to in sub-section (1) shall be reduced by,- (a) the amount of dividend, if any, received by the domestic company during the financial year, if- (i) such dividend is received from its subsidiary; (ii) the subs....