Dividend distribution tax
This query is : Resolved
07 April 2010
Hi freinds,
I wish to know can a company declare and pay dividend for the financial year even after AGM has been held.
How to calculate dividend distribution tax where company is having share capital of Rs.5,00,00,000.00 dividend in to 5000000 shares and company is declaring dividend @Re.1 per share.
Thanks
N.B.
I wish to know can a company declare and pay dividend for the financial year even after AGM has been held.
How to calculate dividend distribution tax where company is having share capital of Rs.5,00,00,000.00 dividend in to 5000000 shares and company is declaring dividend @Re.1 per share.
Thanks
N.B.
07 April 2010
Dividend Distribution Tax (F.Y. 2009-10) should be calculated @ 16.995%.
Total dividend to be paid - Rs.50,00,000/-.
Therefore, total dividend distribution tax to be paid -
50,00,000 x 16.995 = 8,49,750/-.
Total dividend to be paid - Rs.50,00,000/-.
Therefore, total dividend distribution tax to be paid -
50,00,000 x 16.995 = 8,49,750/-.
11 April 2010
At the time of finalisation of accounts, the Board of Directors propose the dividend. on the basis of such proposal of the Board, the provision for dividend and provision for dividend distribution tax are made in the balance sheet for the particular year.
The dividend gets confirmed by the members at the AGM and such dividend and DDT has to be paid within the stipulated period.
The dividend gets confirmed by the members at the AGM and such dividend and DDT has to be paid within the stipulated period.
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