OTHERS

For the computation of Dividend Distribution Tax, the amount of dividend declared, distributed or paid by a domestic company shall be reduced by the amount of dividend received from its subsidiary; provided that the dividend received has suffered Dividend Distribution Tax and the parent company is not a subsidiary of another company.
The provisions of Section 194C amended so as to provide that Association of Persons (AOP) and Body of Individuals (BOI) will also be liable to deduct income tax at source in respect of payment made to resident contractor.
No TDS on Corporate Bonds under Section 193.
Due date of submission of Return of Income and fringe benefit tax has been changed from 31st October to 30th September with effect from assessment year 2008-09.

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