tds on divends

tats y tds in not deducted if dividend is paid by domestic co....other than the dividend covered under sec2(22)(e)

Originally posted by : swajitha
	tats y tds in not deducted if dividend is paid by domestic co....other than the dividend covered under sec2(22)(e)

 swaitha, is right 

further law explain it under section 2(22)(e)

(e)   any payment by a company, not being a company in which the public are substantially interested, of any sum (whether as representing a part of the assets of the company or otherwise)⁹²[made after the 31st day of May, 1987, by way of advance or loan to a shareholder ⁹³ , being a person who is the beneficial owner of shares (not being shares entitled to a fixed rate of dividend whether with or without a right to participate in profits) holding not less than ten per cent of the voting power, or to any concern in which such shareholder is a member or a partner and in which he has a substantial interest (hereafter in this clause referred to as the said concern)] or any payment by any such company on behalf, or for the individual benefit, of any such shareholder, to the extent to which the company in either case possesses accumulated profits ⁹⁴