Can a company may use advance tax paid in excess towards adjustment of Divident Distribution Tax?
If Yes, How?
2 Replies
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 20 November 2014
DDT to be payable at the time of paying Income tax due u/s.140A. so if advance tax paid is in excess of Income tax liability computed by you apart form DDT, then you can adjust such excess amount against DDT.
CS V Periwal
(CS)
(80 Points)
Replied 20 November 2014
How can the same be used? ITR 6 nowhere provides for adjustment.
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