What is Dividend income? Section 8 of Income Tax Act 1961
is defined under section 8 of Income Tax Act 1961.
Provision under this section is:
of Income Tax Act "Dividend income"
For the purposes of inclusion in the total income of an
(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.