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Dividend Tax & rate

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(Querist)
09 July 2008 what is the guideline of dividend declare of the Limited co.

what is the legal requirement and current tax rate of dividend
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
10 July 2008 Dividends as proposed by Board of Directors are approved by the shareholders in the AGM. A tax of fifteen percent is payable on such dividend under section 115O of the Income Tax Act and the same is known as Tax on Distributed Profits.

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