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of <h1>Amendment to Definition of 'Dividend' Under Clause 22, Section 2, Excludes IFSC Treasury Centers from Deemed Dividends</h1> The Union Budget 2025-26 proposes amendments to the definition of 'dividend' under clause (22) of section 2 to address concerns about deemed dividends for treasury centers in International Financial Services Centres (IFSC). The amendment specifies that advances or loans between group entities, where one is a finance company or unit in IFSC acting as a corporate treasury center, will not be considered dividends if the parent entity is listed on a foreign stock exchange. These changes aim to facilitate treasury activities without triggering deemed dividend provisions and will be effective from April 1, 2025.
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