12 January 2010
Section is 115 O of the Income tax Act,1961. Rate of tax is 15.45% ie tax @ 15% + education cess @2% of tax + secondary and higher education cess @ 1% of tax. Time limit is with in 14 days from the date of- declaration of dividend or distribution of dividend or payment of dividend, which ever is earlier.
13 January 2010
I am sorry sir, but i think there is also surcharge is applicable on basic tax rate. Therefore, Corporate Dividend Tax(CDT) Taxable % will be as follow:
=15 + 10% * 15 + (15*10%)*3% = 16.995%
Here, 15 is basic tax rate 10 is surcharge 3 is EC & SHEC
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