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Querist : Anonymous (Querist)
29 December 2010 A limited company issued preference shares.At the end of the year it gave fixed dividend to the redeemable preference shareholders but its cash position is not good enough to pay corporate dividend tax.Is there any relaxation as per Income tax?

29 December 2010 Penalty u/s 271C attracts. If levied, seek waiver u/s 273A(4) / 273B.

29 December 2010 no concession.... else anyone would take undue advantage out of it...


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