The word “dividend” under the income-tax Act, 1961 is to be construed as
A. Strictly as defined u/s 2(22) of the Act, as definition is exhaustive
B. Dividend as per the Companies Act, 2013
C. The definition as per Income-tax Act, 1961 is inclusive, therefore a receipt can still be dividend under ordinary meaning of expression
D. None of the above
Answer:C
The word “dividend” under the income-tax Act, 1961 is to be construed as
A. Strictly as defined u/s 2(22) of the Act, as definition is exhaustive B. Dividend as per the Companies Act, 2013 C. The definition as per Income-tax Act, 1961 is inclusive, therefore a receipt can still be dividend under ordinary meaning of expression D. None of the above