Income-tax Act,1961
Act No : 43
Section :
Information by companies respecting shareholders to whom dividends have been paid.
7[286. Information by companies respecting shareholders to whom dividends have been paid.-Omitted by- the Finance Act, 1987, w.e.f. 1- 6-1987.] ---------------------------------------------------------------------- 1 Prior to the omission'-section 285A, as amended by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976, read as under: "285A. Information by contractors in certain cases.-(1) Where any person (hereinafter referred to as the contractor) enters into a contract with another person for carrying out any work or for the supply of goods or services in connection therewith, the value of which work or supply or both exceeds fifty thousand rupees, he shall, within one month of the making of the contract, furnish to the Income- tax Officer having jurisdiction to assess the contractor such particulars relating to the contract and in such form as may be prescribed. (2) Without prejudice to the provisions of any other law for the time being in force, where any contractor contravenes the provisions of sub-section (1), the Commissioner may impose upon him such fine not exceeding fifty rupees as he thinks fit for every day during which the contravention continues, so, however, that the amount of fine so imposed shall not, in the aggregate, exceed twenty-five per cent of the value of the contract. (3) The Commissioner shall, on making an order under this section imposing a fine, forthwith send a copy of the same to the Income-tax Officer." 2 Inserted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4- 1976. 3 See Instruction No. 1727, dated 22-8-1986, reproduced in Bharat's Direct Taxes Circulars, 1991 edn., p. 1901. 4 Substituted for "Income-tax" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 6 The words "as employee or otherwise" omitted by the Finance Act, 1989, w.e.f. 1-6-1989. 7 Prior to the omission, section 286 read as under: "286. Information by companies respecting shareholders to whom dividends have been paid--The principal officer of every company which is an Indian company or a company which has made such arrangements as may be prescribed for the declaration and payment of dividends in India, shall, on or before the fifteenth day of June in each year, furnish to the prescribed officer a return in the prescribed form and verified in the prescribed manner of the names and of the addresses, as entered in the register of shareholders maintained by the company, of the shareholders to whom a dividend or aggregate dividends exceeding such amount as may be prescribed in this behalf has or have been distributed during the preceding year and of the amount so distributed each shareholder." ---------------------------------------------------------------------- 1.808
