Deeming rule for dividends: economic owner taxed where transfers separate entitlement from legal receipt.
Section 175 deeming rule attributes interest and dividends to the original owner or beneficial holder when securities transactions separate economic entitlement from legal receipt, applies on day to day accrual where beneficial interest existed during a year, operates irrespective of other charging provisions, allows the Assessing Officer to require ownership details, and includes a business of dealing carve out and short term record date anti arbitrage rules that ignore specified losses and adjust cost of additional securities.