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TMI BlogDividendsX X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 ) 12 [ or sub-clause (f) ] 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 such de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roviso 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 such company has full be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 shareholder, being an individual, of a company in which the public are substantially interested, if- (a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance 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 it was read as at the rates in force 8. Substituted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2020 before it was read as an account ..... X X X X Extracts X X X X X X X X Extracts X X X X
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