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| Home > Indian Bare Acts > Income Tax Act - 1961 > When company is deemed to be in default. |
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| Income Tax Act - 1961 |
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Title : Income Tax Act - 1961
Year : 1961
Act :
115Q. When company is deemed to be in default. If any principal officer of a domestic company and the company does not pay tax on distributed profits in accordance with the provisions of section 115-O, then, he or it shall be demed to be an assessee in default in respect of the amount of tax payable by him or it and all the provisions of this Act for the collection and recovery of income tax shall apply. Explanation.--For the purposes of this Chapter, the expression "dividends" shall have the same meaning as is given to "dividend" in clause (22) of section 2but shall not include sub-clause (e) thereof.
Last updated on February, 2008
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