[1][115BBD. Tax on certain dividends received from foreign companies

(1) Where the total income of an assessee, being an Indian company, [2][* * *] includes any income by way of dividends declared, distributed or paid by a specified foreign company, the income-tax payable shall be the aggregate of

(a) the amount of income-tax calculated on the income by way of such dividends, at the rate of fifteen per cent.; and