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redemptin of preference shares at premium

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(Querist)
30 June 2008 redemption of preference shares at premium and the company has reserves
Will the same come under the ambit of dividend u/s 2(22)
If yes would it be liable to dividend distribution tax
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PC-www.bharadwajinstitute.com

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PC-www.bharadwajinstitute.com (Expert)
02 July 2008 Dividend tax is ALWAYS APPLICABLE....it is applicable irrespective of whether it is paid out of current year profits reserves////

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