Which of the following are 'dividend' under section 2(40) of the Income-tax Act, 2025, chargeable under…

Section 2(40) of the Income-tax Act, 2025 (formerly s.2(22) of the Income-tax Act, 1961) includes in 'dividend' any distribution of debentures, debenture-stock or deposit certificates to shareholders to the extent of accumulated profits (sub-clause (b)) (C); any distribution to shareholders on the reduction of capital to the extent of accumulated profits (sub-clause (d)) (B); and any loan or advance by a company in which the public are not substantially interested to a shareholder who beneficially holds not less than 10% of the voting power, to the extent of accumulated profits (sub-clause (e)) (E).

D is excluded because the definition does not include an advance or loan made to a shareholder by a company in the ordinary course of its business where lending of money is a substantial part of that business. A is excluded because the Finance Act, 2026 omitted sub-clause (f), which had treated buy-back payments as dividend, with effect from 1 April 2026; the consideration received on buy-back is now taxed as capital gains under section 69. The correct answer is B, C and E only.