Dividend distribution tax
This query is : Resolved
12 June 2010
Dear friends,
In budget 2010, surcharge on domestic companies has been reduced to 7.5% from 10%.
A company has proposed dividend in its audited balance sheet as on 31.3.2010. On 01.06.2010, its board of directors passed the resolution for declaration of dividend.
My query is for calculating dividend distribution tax, surcharge rate shall be 10% or 7.5%? Which rate of surcharge will be applicable as dividend was proposed in the audited accounts for FY 2009-10 but it is declared in FY 2010-11.
According to me, surcharge @ 7.5% should be charged.
Please give your opinion.
Thnks & Rgds.
In budget 2010, surcharge on domestic companies has been reduced to 7.5% from 10%.
A company has proposed dividend in its audited balance sheet as on 31.3.2010. On 01.06.2010, its board of directors passed the resolution for declaration of dividend.
My query is for calculating dividend distribution tax, surcharge rate shall be 10% or 7.5%? Which rate of surcharge will be applicable as dividend was proposed in the audited accounts for FY 2009-10 but it is declared in FY 2010-11.
According to me, surcharge @ 7.5% should be charged.
Please give your opinion.
Thnks & Rgds.
12 June 2010
No. Surcharges will be applicable @10% as the dividend is being paid in respect of Financial Year 2009-10.
12 June 2010
Yes... Surcharge rate would be 10%. as the distribution of profit relates to AY 10-11..
12 June 2010
No surcharge will be 7.5% because it is declerared, paid and distributed in 2010-11.
12 June 2010
Dear Friends,
The problem still continues - 10% or 7.5%?
The problem still continues - 10% or 7.5%?
13 June 2010
I am Agree with Sanjay & Krishnan......Surcharge will be applicable @ 10% instead of 7.5%. Because dividend is in respect of F.Y. 2009-10
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Payment of bonus act - notice pay recovery
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
