Income-tax Act, 1961
Section - 115BBD - Tax on certain dividends received from foreign companies
Tax on certain dividends received from foreign companies.115BBD. (1) Where the total income of an assessee, being an Indian company, includes any income by way of dividends declared, distributed or paid by a specified foreign company, the income-tax payable shall be the aggregate of-
(2) Notwithstanding anything contained in this Act, no deduction in respect of any expenditure or allowance shall be allowed to the assessee under any provision of this Act in computing its income by way of dividends referred to in sub-section (1).(3) In this section,-
| (a) | - | the amount of income-tax calculated on the income by way of such dividends, at the rate of fifteen per cent; and |
| (b) | - | the amount of income-tax with which the assessee would have been chargeable had its total income been reduced by the aforesaid income by way of dividends. |
| (i) | - | "dividends" shall have the same meaning as is given to "divid .... To read the full section download the app from Google Play store
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