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

Clause 50 - Bills - DIRECT TAXES - FINANCE BILL, 2016 - 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 o .....

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ceeding ten lakh 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 .....

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set off of loss 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 divid .....

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