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Dividend Tax

10 May 2007

i am a pvt. ltd. company and is not listed in a recognised stock exchange. can i issue dividend? if yes plz tell me the required forms and challans etc to be submitted to various authorities plz wsubmit with all detais possible....[b][/b][size=14][/size][face=Arial][/face][color=black][/color]

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4 Replies

Ca Deepa (61 Points)
Replied 10 May 2007

Atul,

As for dividend, pvt co. can very well do it without much formalities. U just need to keep ur resolution regd the same prepared at board meetings. If final div, then it has to be proposed at Board meet &approved at a general meeting. And if interim then proposed and approved at Board meeting. The only formalities it paying Dividend distribution tax @ 12.5 % +10%+ 2% if declared befor 31st.
Pay this thru the challan 283 (select tax on profits of company) and pay to the designated bank accepting the same

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Atul Kumar (37 Points)
Replied 10 May 2007

how form 283 it is for fringe benefit tax and banking cash transaction tax plz clearify

Ca Deepa (61 Points)
Replied 10 May 2007

Atul,
I am sorry for the misprint. It is form 280

(Guest)

Originally posted by :Ca Deepa
"	Atul,As for dividend, pvt co. can very well do it without much formalities. U just need to keep ur resolution regd the same prepared at board meetings. If final div, then it has to be proposed at Board meet &approved at a general meeting. And if interim then proposed and approved at Board meeting. The only formalities it paying Dividend distribution tax @ 12.5 % +10%+ 2% if declared befor 31st. Pay this thru the challan 283 (select tax on profits of company) and pay to the designated bank accepting the same	"