Grossing up of Dividend [Sec. 115-O(1B)] - Income Tax - Ready Reckoner - Income Tax

SEC 115-O(1B) : GROSSING UP OF DIVIDEND For the purposes of determining the tax on distributed profits payable in accordance with this section, any amount by way of dividends referred to in subsection (1) as reduced by the amount referred to in sub-section (1A) [hereafter referred to as net distributed profits], shall be increased to such amount as would, after reduction of the tax on such increased amount at the rate specified in sub-section (1), be equal to the net distributed profits.] EXCEPTION: This sub-section shall not apply in respect of dividend referred to in sub-clause (e) of clause (22) of section 2. [Inserted vide THE FINANCE ACT, 2018 ]