ITO Section 5 | Tax on dividends.

ITO Section 5

Tax on dividends.

(1) Subject to this Ordinance, a tax shall be imposed, at the rate specified in Division III of Part I of the First Schedule, on every person who receives a dividend from a  [ ] company 4 [or treated as dividend under clause (19) of section 2].

(2) The tax imposed under sub-section (1) on a person who receives a dividend shall be computed by applying the relevant rate of tax to the gross amount of the dividend.

(3) This section shall not apply to a dividend that is exempt from tax under this Ordinance.

Accused โ˜… POLICE Police Officer

Explanation of ITO Section 5

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