Dividend income.

5[For the purposes of inclusion in the total income of an assessee,—

1. (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; 6[(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.]

¹ Subs. by Act 28 of 2016, s. 4, for clause (3) (w.e.f. 1-4-2017).

² Subs. by Act 32 of 2003, s. 4, for certain words (w.e.f. 1-4-2004).

³ Ins. by Act 23 of 2004, s. 4 (w.e.f. 1-4-2004).

⁴ Subs. by Act 22 of 2007, s. 4 (w.e.f. 1-4-2004).

⁵ Subs. by Act 10 of 1965, s. 5, for “For the purposes of inclusion in the total income of an assessee, any dividend” (w.e.f. 1-4-1965).

⁶ Ins. by s. 5, ibid. (w.e.f. 1-4-1965).