Income tax
This query is : Resolved
23 July 2012
please explain me tax treatment on dividends!!.......which dividend are taxable and which are not??
24 July 2012
The dividend so declared by the domestic company shall be exempt from tax in the hands of shareholders u/s 10(34) of the Income Tax Act, 1961. But this provision is not applicable to foreign company and deemed dividend.
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Guest
Guest
(Expert)
24 July 2012
however dividend from co-operative banks / societies are also liable to tax
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24 July 2012
Agreed to the replies of Experts.
Regards
Sanyam Arora
Regards
Sanyam Arora
24 July 2012
thank you sir....sir will you please also explain me what is a domestic company....does that mean a indian company.???
24 July 2012
A Domestic Co. means an Indian Co. or any other Co. with respect to its Income liable to pay Tax under I.T Act.
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24 July 2012
A Domestic Company means an Indian Company or any other company with respect to its income, liable to tax under the Income-Tax Act, has made the prescribed arrangements for the declaration and payment within India, of the dividends (including dividends on preference shares) payable out of such income.
Thus, all Indian Company are treated as Domestic Company but all Domestic Company are not Indian Company.
If a Foreign Company makes prescribed arrangements for
payment of dividends in India it shall be treated as Domestic
Company.....
Thus, all Indian Company are treated as Domestic Company but all Domestic Company are not Indian Company.
If a Foreign Company makes prescribed arrangements for
payment of dividends in India it shall be treated as Domestic
Company.....
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