Dividend Distribution Tax
This query is : Resolved
22 June 2008
I want to wind-up a private limited company, amongst reserves are :
Paid-up Share Capital 11 lacs
Capital Redemption Reserve 9 lacs
Profit & Loss Account 3 lacs
Capital Redemption Reserve is on account of Buy-Back of shares.
Is DDT payable on :
Paid-up Share Capital ?
CRR ?
P & L A/c. ?
Paid-up Share Capital 11 lacs
Capital Redemption Reserve 9 lacs
Profit & Loss Account 3 lacs
Capital Redemption Reserve is on account of Buy-Back of shares.
Is DDT payable on :
Paid-up Share Capital ?
CRR ?
P & L A/c. ?
24 June 2008
as per sec 2(22)(c) dividend includes distribution of profits on liquidation. i think CRR also represent profits and DDT shud be paid on CRR+P&L.
24 June 2008
Sir,
Thank you for your reply. But I am critical of the provisions for :
If CRR is representing profits, then why can't we issue shares and liquidate.
As that will cost Rs.20,000 , while DDT will be Rs.135,000+
Thank you for your reply. But I am critical of the provisions for :
If CRR is representing profits, then why can't we issue shares and liquidate.
As that will cost Rs.20,000 , while DDT will be Rs.135,000+
24 June 2008
Sir,
Thank you for your reply. But I am critical of the provisions for :
If CRR is representing profits, then why can't we issue shares and liquidate.
As that will cost Rs.20,000 , while DDT will be Rs.135,000+
Thank you for your reply. But I am critical of the provisions for :
If CRR is representing profits, then why can't we issue shares and liquidate.
As that will cost Rs.20,000 , while DDT will be Rs.135,000+
26 June 2008
in any case u need to pay DDT on 12 lacs as sec. 2(22)(d) includes all accumulated profits whether capitalised or not.
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