If dividend is declared for the financial year 2011-12 in May-2012, then dividend distribution tax is to be paid at the rates prescribed for Assessment Year 2012-13 or 2013-14....????
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Dividend distribution tax
Replies (8)
Rates as per A.Y. 12.-13
16.2225% [15+S.C. 0.75+E.C. .315+SHEC+ .1575]
within 14 days from the date of declaration/distribution/payment of dividend
Totally agreed with PRitam Jain.Date of payment is relevant.within 14 days you have to pay the dividend distribution tax.other there will be interest & penalty for the defaults
2013-14
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Dear Friends,
There is a small correction....
It is 16.2225% only provided the surcharge is 5% otherwise it would be 16.60875%
Message :
Date of declaration of dividend 30.09.2011, a.y. 2011-12 , rate 3% , dividend amt. 9392433 tax amt. 1408865+105664+45436 = 1559965. sir, i want to calculate interest as on dt 30.09.2012
thanks
Lakshmi prasad
9971294094
lprasad123 @ gmail.com
Dear sir,
If dividend for f.y.2011-12 is declared in sep2012,then what must be the a.y. on challan and in which A.y. return should we file the ddt details...Kindly suggest
Hi,
Usually, you will show provision for dividend and provision for DDT amounts in F.Y.2011-12 books of accounts even though the same is declared in F.Y.2012-13, based on which, the department will ask you, about the payment of DDT for that particular assessment year. Suppose, if we pay DDT in the subsequent assessment year based on the year of declaration, that may not match with the liability and payment, hence, better to pay the DDT with assessment year of corresponding financial year in which you have debited the Dividend in your books of accounts.
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