Telecom Regulatory Authority of India Act : When Company is deemed to be in default. Indian Bare Acts

Telecom Regulatory Authority of India Act,1997

Act No : 24

Section : When Company is deemed to be in default.

115Q. When Company is deemed to be in default. If any principal officer of a domestic company and the company does not pay tax on distributed profits in accordance with the provisions of section 115-O, then, he or it shall be deemed to be an assessee in default in respect of the amount of tax payable by him or it and all the provisions of this Act for the collection and recovery of income-tax shall apply. Explanation.- For the purposes of this Chapter, the expression "dividends" shall have the same meaning as is given to "dividend" in clause (22) of section 2 but shall not include sub-clause (e) thereof.'.