Can anybody tell me whether Dividend Distribtion Tax can be set off against current year TDS Receivable? If yes, what are the relevant sections for this provision?
7 Replies
Irshad
(Article)
(1426 Points)
Replied 24 January 2008
Ya Even Iwould like to know aboout this.Experts please reply...
HARANATH
(Profession)
(186 Points)
Replied 25 January 2008
i hope both are exclusive provisions. and there is no such facility to set off ddt to tds receivable.
M.Sriram Shenoy
(CA Final)
(814 Points)
Replied 25 January 2008
Dividend Distribution Tax paid will neither be allowed as a deduction nor for a component of set off against any tax credits.
CA CS Amit Borade
(Chief Accountant)
(2828 Points)
Replied 23 September 2009
Hi All
One can not get set off of DDT against TDS its 100% sure.
DDT Set off .....>>>
W.e.f. 1-4-2008 where the domestic company has received any dividend from its subsidiary company (where its share holding is more than 50% of its nominal capital), and that such subsidiary has paid dividend distribution tax on dividend declared by it then the amount of such dividend shall be reduced from the amount of dividend liable to tax, provided the domestic company itself is not a subsidiary of any other compan.
I think this will clear ur Doubt.
Thanks
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