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Dividend distribution tax

Pratik (Articleship) (37 Points)

25 May 2012

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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8 Replies

PRITAM JAIN, CA , CS (Practising CA CS) (398 Points)
Replied 25 May 2012

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

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KARANDEEP,CA,B.Com,CS FNL (JOB) (457 Points)
Replied 25 May 2012

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

Prateek Agarwal (Sr. Executive - Finance & Accounts) (1732 Points)
Replied 25 May 2012

2013-14

Samarth Jain (Due Diligence Manager) (74 Points)
Replied 25 May 2012

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ramprasad balimidi (MANAGER - ACCOUNTS) (30 Points)
Replied 07 September 2012

Dear Friends,

There is a small correction....

It is 16.2225% only provided the surcharge is 5% otherwise it would be 16.60875%

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lakshmi prasad (accounts exec.) (23 Points)
Replied 14 September 2012

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

Ajay kumar reddy (Article trainee) (28 Points)
Replied 28 January 2013

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

ramprasad balimidi (MANAGER - ACCOUNTS) (30 Points)
Replied 29 January 2013

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.