AUBSP»Income Tax»Taxpayers»Section 8 of Income-tax Act 1961-2017 – Dividend income

Section 8 of Income-tax Act 1961-2017 – Dividend income

Detail analysis of the provisions of Section 8 (Dividend income) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Chapter II (Sections 4-9A) of Income Tax Act, 1961 deals with provisions related to Basis of Charge. Section 8 of Income Tax Act 1961-2017 provides for Dividend income.

For the purposes of inclusion in the total income of an assessee,—

(a) any dividend declared by a company or distributed or paid by it within the meaning of sub-clause (a) or sub-clause (b) or sub-clause (c) or sub-clause (d) or sub-clause (e) of clause (22) of section 2 shall be deemed to be the income of the previous year in which it is so declared, distributed or paid, as the case may be;

(b) any interim dividend shall be deemed to be the income of the previous year in which the amount of such dividend is unconditionally made available by the company to the member who is entitled to it.

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