Current Affairs Question - 03 February 2020

Explanation :

• The Dividend Distribution Tax(DDT) is a tax levied ondividends that a company pays to its shareholders out of its profits.
• DDT is taxable at source and is deducted at the time of the company distributing dividends. The dividend is the part of profits that the company shares with its shareholders.
• Under Section 115-O, the Income Tax Act, any domestic firm which is declaring or distributing dividend has to pay DDT at the rate of 15 percent on the gross amount of dividend.
• The tax has to be paid to the government within 14 days of the dividend declaration, distribution or payment whichever is earliest.
• If DDT is not paid within the given time period, interest at a rate of 1 percent per month or part thereof starts getting accumulated till the amount is paid. The tax is paid separately, over and above the company’s income tax liability.

Explanation :

• The Law Commission of India, in its 41st Report dated September 24, 1969 pointed out the necessity of introducing a provision in the Code of Criminal Procedure enabling the High Court and the Court of Sessions to grant “anticipatory bail.”
• Section 438 of the Code of Criminal Procedure, 1973, lays down the law on anticipatory bail, which reads: “When any person has reason to believe that he may be arrested on an accusation of having committed a non-bailable offence, he may apply to the High Court or the Court of Session for a direction under this section; and that Court may, if it thinks fit, direct that in the event of such arrest, he shall be released on bail.
• The provision empowers only the Sessions Court and High Court to grant anticipatory bail.
• As opposed to ordinary bail, which is granted to a person who is under arrest, in anticipatory bail, a person is directed to be released on bail even before arrest made.