TMI BlogWhen company is deemed to be in defaultX X X X Extracts X X X X X X X X Extracts X X X X ..... ed to be in default. 115Q. If any principal officer of a domestic company and the company does not pay tax on distributed profits in accordance with the provisions of section 115-O, then, he or it sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same meaning as is given to dividend in clause (22) of section 2 but shall not include sub-clause (e) thereof."
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