Deduction of tax at source under section 194 of the Income-tax Act, 1961-Deduction from dividend income-Rate of tax applicable during the financial year 1987-88-Levy of surcharge on income-tax-Regarding

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....ncial year 1987-88-Levy of surcharge on income-tax-Regarding Circular No. 509 Dated 23/2/1988 To All Chambers of Commerce, etc. Sir, Subject: Deduction of tax at source under section 194 of the Income-tax Act, 1961-Deduction from dividend income-Rate of tax applicable during the financial year 1987-88-Levy of surcharge on income-tax-Regarding. I am directed to say that according to the prov....

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....paid by an account payee cheque and the aggregate of the amounts of such dividends distributed or paid or likely to be distributed or paid during the financial year by the company to the shareholder does not exceed Rs. 2,500. 2. It is brought to your notice that, vide section 3 of the Finance (Amendment) Act, 1987 (No. 46 of 1987), the First Schedule to the Finance Act, 1987, has been amended wit....