TMI BlogDividendsX X X X Extracts X X X X X X X X Extracts X X X X ..... end or before 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 ) 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 suc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndia (hereafter in this proviso referred to as 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as inserted by the Finance (No. 2) Act, 1977, w.e.f. 1-10-1977, later on substituted by the Finance Act, 1984, w.e.f. 1-6-1984 and amended by the Finance Act, 1987, w.e.f. 1-6-1987 and Finance (No. 2) Act, 1991, w.e.f. 1-10-1991, and the second proviso, as inserted by the Finance Act, 1997, w.e.f. 1-6-1997, read as under : Provided that no such deduction shall be made in the case of a shareh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 1-4-1988. 4. Substituted for one thousand by the Finance Act, 2003, w.r.e.f. 1-8-2002. 5. Inserted, by the Finance Act, 2003, w.r.e.f. 1-4-2003. 6. Substituted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2020 before it was read as in cash or before issuing any cheque or warrant 7. Substituted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2020 before ..... X X X X Extracts X X X X X X X X Extracts X X X X
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