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Insertion of new section 115 BBDA-Tax on certain dividends received from domestic companies.

Clause 50 - Bills - DIRECT TAXES - Bill - Clause 50 - Insertion of new section 115 BBDA. 50. After section 115BBD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2017, namely:- Tax on certain divi .....

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kh rupees, by way of dividends declared, distributed or paid by a domestic company, the income-tax payable shall be the aggregate of- (a) the amount of income-tax calculated on the income by way of such dividends, at the rate of ten per cent.; and (b .....

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s shall be allowed to the assessee under any provision of this Act in computing the income by way of dividends referred to in clause (a) of sub-section (1). (3) In this section, dividends shall have the same meaning as is given to dividend in clause .....

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