Tax on dividends distributed

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..... tax, at the rate specified in Paragraph B of The Second Schedule and in the manner provided therein, on any amount declared by the company by way of dividends. (2) The amount referred to in sub-section (1) shall be reduced by,- (a) the amount of dividend, if any, received by the domestic company during the financial year, if- (i) such dividend is received from its subsidiary; (ii) the subsidiary h .....

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..... referred to in sub-section (1). (6) The dividend distribution tax charged under the foregoing provisions shall be collected after allowing credit for pre-paid taxes, if any, in accordance with the provisions of this Code. (7) For the purposes of this sub-section, a company shall be a subsidiary of another company, if such other company holds more than half in nominal value of the equity share capi .....

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