info@bsrt.in
  • HOME
  • ABOUT US
  • SERVICES
    • Registrations
      • Private Limited & Public Limited Company
      • Limited Liability Partnership
      • Partnership Firm Under Partnership Act 1932
      • Proprietorship Firm
      • NGO (Society / Trust / Section 25 Company )
      • Vat / Sale Tax Number
      • Service Tax
      • Excise
      • Trade Mark / Copy Right / Patent
      • 80G / 12A / FCRA / 35AC
      • ESI & PF
      • Import Export Code
      • Small Scale Industry (MSME)
      • ISO Certification
      • Factory License
    • Accounting & Business Process Outsourcing
    • Auditing & Assurance & Advisory Services
      • Statutory Audit
      • Tax Audit
      • Internal Audit / Concurrent Audit
      • Information System Audit (IS / EDP Audit)
      • Special Audit & Compliance Audit
      • Cost Audit
      • Due Diligence Review
      • ISO Audit
      • Management Consultancy & Risk Consultancy
      • Investment Planning & Portfolio Management
      • Tax Consulting
      • System Process & Control Review
    • Taxation Services
      • Income Tax Return & TDS Returns Fillings
      • Sales Tax Returns & Compliance
      • Service Tax Returns & Compliance
      • Excise Returns & Compliance
      • Appeals & Assessments
      • 15CA / 15CB Filling
      • ESI & PF Returns & Annual Compliances
    • Corporate Services
    • Legal Services
    • Finance Services
    • Investment Services
    • Insurance
    • Digital Signature
    • India Entry Services
    • Acts / Rules
      • Acts
        • Service Tax
        • Limited Liability Partnership Act
        • Custom Act 1962
        • RTI 2005
        • The Companies Act, 2013
        • Foreign Exchange Management Act (Fema)
        • Foreign Exchange Regulation Act (Fera)
        • Special Economic Zone (Act)
        • Incometax Act
        • Patent Act
        • Gratuity Act
        • Bonus Act
        • Central Sales Tax Act, 1956
        • Right To Information Act, 2005
        • The Companies Act, 1956
        • Wealth Tax Act, 1957
        • The Securities And Exchange Board Of India Act, 1992
        • The Employees State Insurance Act, 1948
        • The Indian Partnership Act, 1932
        • Societies Registration Act, 1860
        • Reserve Bank Of India Act, 1934
        • Competition Act, 2002
        • The Chartered Accountants Act, 1949
        • Cost And Works Accountants Act, 1959
        • Gst Acts
        • 101st Constitution Amendment Act, 2016
      • Rules
        • Income Tax Rules
        • Service Tax Rules
        • Custom Act 1962 (Rules)
        • Special Economic Zone (Rules)
        • Gratuity Rules
        • Wealth Tax Rules, 1957
        • Limited Liability Partnership Rules, 2009
        • Limited Liability Partnership (Winding Up And Dissolution) Rules, 2010
        • Non-banking Financial Companies Acceptance Of Public Deposits (Reserve Bank) Directions, 1998
        • Non-Banking Financial Companies Auditors Report (Reserve Bank) Directions, 2008.
        • Cost Record And Audit Rules, 2014
        • Cenvat Credit Rules, 2004
        • CGST Rules, 2017
    • Utilities
      • a
    • Links
    • Vat
      • ACTS
        • UTTAR PRADESH
        • DELHI
        • GUJARAT
        • HARYANA
        • KARNATAKA
        • MADHYA PRADESH
        • MAHARASHTRA
        • RAJASTHAN
        • WEST BENGAL
        • UTTRAKHAND
      • RULES
        • UTTAR PRADESH
        • DELHI
        • GUJARAT
        • HARYANA
        • KARNATAKA
        • MADHYA PRADESH
        • MAHARASHTRA
        • RAJASTHAN
        • WEST BENGAL
        • UTTRAKHAND
    • Circulars / Notifications
      • Notification
        • Service Tax Notification
        • Delhi Vat Notification
        • Limited Liability Partnership
        • Special Economic Zone
        • DGFT Notification
        • Company Law Notification
      • Circular
        • Income Tax Circular
        • Service Tax Circular
        • Delhi Vat Circular
        • DGFT Circular
        • Company Law Circular
        • Sebi Circular
      • Custom Circulars
      • Custom Notification
      • Central Excise Notification
      • Central Excise Circular
      • GST Notification
        • Central Tax
        • Central Tax (Rate)
        • Integrated Tax
        • Integrated Tax (Rate)
        • Union Territory Tax
        • Union Territory Tax (Rate)
        • Compensation Cess
        • Compensation Cess (Rate)
      • GST Circulars
        • IGST
        • Compensation Cess.
        • CGST
    • Bulletins
      • salam
    • Softwares
  • CALCULATORS
  • DOCUMENTS
  • ENQUIRY
  • CONTACT US

Ask a Query


Client Login

Welcome To BSRT & CO.

236. Relief to company in respect of dividend paid out of past taxed profits. —  (1) Where in respect of any previous year relevant to the assessment year commencing after the 31st day of March, 1960, an Indian company or a company which has made the prescribed arrangements for the declaration and payment of dividends within India, pays any dividend wholly or partly out of its profits and gains actually charged to income-tax for any assessment year ending before the 1st day of April, 1960, and deducts tax therefrom in accordance with the provisions of Chapter XVII-B, credit shall be given to the company against the income-tax, if any, payable by it on the profits and gains of the previous year during which the dividend is paid, of a sum calculated in accordance with the provisions of sub-section (2), and, where the amount of credit so calculated exceeds the income-tax payable by the company as aforesaid, the excess shall be refunded.

(2) The amount of income-tax to be given as credit under sub-section (1) shall be a sum equal to ten per cent of so much of the dividends referred to in sub-section (1) as are paid out of the profits and gains actually charged to income-tax for any assessment year ending before the 1st day of April, 1960.

Explanation 1.—For the purposes of this section, the aggregate of the dividends declared by a company in respect of any previous year shall be deemed first to have come out of the distributable income of that previous year and the balance, if any, out of the undistributed part of the distributable income of one or more previous years immediately preceding that previous year as would be just sufficient to cover the amount of such balance and as has not likewise been taken into account for covering such balance of any other previous year.

Explanation 2.—The expression "distributable income of any previous year" shall mean the total income (as computed before making any deduction under Chapter VI-A) assessed for that year as reduced by—

 (i)  the amount of tax payable by the company in respect of its total income;

(ii) the amount of any other tax levied under any law for the time being in force on the company by the Government or by a local authority in excess of the amount, if any, which has been allowed in computing the total income;

(iii) any sum with reference to which a deduction is allowable to the company under the provisions of section 80G; and

(iv) in the case of a banking company, the amount actually transferred to a reserve fund under section 17 of the Banking Companies Act, 1949 (10 of 1949),

and as increased by—

(a) any profits and gains or receipts of the company, not included in its total income (as computed before making any deduction under Chapter VI-A); and

(b) any amount attributable to any allowance made in computing the profits and gains of the company for purposes of assessment, which the company has not taken into account in its profit and loss account.

Service Areas

Lorem ipsum dolor sit amet, consectetur adipisicing elit. Deserunt dolore tenetur facilis repellat esse, odit voluptatem?

Digital Signature

A Digital Signature is the equivalent of a physical signature in electronic format, as it establishes the identity of the... Read more

Financial Services

We offer comprehensive manual or computerized bookkeeping systems maintained by trained accounting... Read more

Legal Services

We offer comprehensive manual or computerized bookkeeping systems maintained by trained accounting... Read more

Trademark / Copyright Application

We offer comprehensive manual or computerized bookkeeping systems maintained by trained accounting... Read more

Bank Loan Syndication

A syndicated loan is a loan made by a group of lenders who share or participate in a specific loan given to... Read more

Services Tax Registration

We offer comprehensive manual or computerized bookkeeping systems maintained by trained accounting... Read more

Why Choose Us

Business Consulting

Lorem ipsum dolor sit amet, consectetur adipisicing elit. Molestias non nulla placeat, odio, qui dicta alias.

Experienced Advisors

Lorem ipsum dolor sit amet, consectetur adipisicing elit. Molestias non nulla placeat, odio, qui dicta alias.

Legal Analysis

Lorem ipsum dolor sit amet, consectetur adipisicing elit. Molestias non nulla placeat, odio, qui dicta alias.

Legal Help

Lorem ipsum dolor sit amet, consectetur adipisicing elit. Molestias non nulla placeat, odio, qui dicta alias.

Latest News

New Tax Rates
New Tax Rates

The Reserve Bank of India will shortly issue Rs. 2000 denomination banknotes in the Mahatma Gandhi (New) Series, with

Defending Your Client
Defending Your Client

The Reserve Bank of India will shortly issue Rs. 2000 denomination banknotes in the Mahatma Gandhi (New) Series, with

Issue of Rs. 2000 banknotes
Issue of Rs. 2000 banknotes

The Reserve Bank of India will shortly issue Rs. 2000 denomination banknotes in the Mahatma Gandhi (New) Series, with

Contact Information
  • 402-403, Suneja Tower-1, District Centre, Janak Puri, New Delhi - 110058.
  • info@bsrt.in
  • www.bsrt.in
Useful Links
  • Home
  • About us
  • Enquiry
  • Documents
Our Services
  • Income Tax
  • Sales Tax Registration
  • Service Tax Registration
  • Goods & Service Tax Registration
Opening Hours
  • Mon - Sat :
    10.00 am - 6.00 pm
  • Sun :
    Closed
Connect With Us

Copyright ©2017 BSRT & Co. All Rights Reserved

Powered By Aem Solutions