A person is the shareholder of the Indian Co. The co. declares the dividends.
Is the person liable to pay tax on the dividend recived by him??
Thank You
$AcH!n G
(Still Running for My Destination)
(1036 Points)
Replied 03 August 2010
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 03 August 2010
Dear Lakshmi,
The dividend distributed by an Indian Company is subject to dividend distribution tax.It is exempt from tax in the hands of recipient under section 10(34) to avoid double taxation.
Regards,
Fatema.
Dheeraj
(Learner)
(1100 Points)
Replied 03 August 2010
it is exempt u/s 10(34), provided he has no substantial interest in the co.
| Originally posted by : FATEMA | ||
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Dear Lakshmi, The dividend distributed by an Indian Company is subject to dividend distribution tax.It is exempt from tax in the hands of recipient under section 10(34) to avoid double taxation. Regards, Fatema. |
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agree with all frnds....
Harpreet
(* * * * * *)
(1670 Points)
Replied 03 August 2010
Agreed with above replies on query raised by Lakshmi.....Thanx members.
samidha
(Accountant)
(21 Points)
Replied 03 August 2010
Tds In 192 B Paid Wrongly In 194 j So What to do now? tell me plz
C.A. Parin Poojara
(Chartered Accountant)
(90 Points)
Replied 03 August 2010
Hi samidha
U have file revised return of TDS.
naveen krishna sharma
(teaching)
(25 Points)
Replied 03 August 2010
sarang
(CFA ,CMA & CA FINAL )
(63 Points)
Replied 03 August 2010
i agree with all..... exempt u/s 10(34)....
G!rdhar! Jang!d
(Tax Consultants )
(680 Points)
Replied 03 August 2010
| Originally posted by : $AcH!n G | ||
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dividend given by the indian co. to its shareholder's is exempt from tax. sec 10(34) of income tax act. |
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Mahesh Lahoti
(B.com Hons C.S Professional Programme)
(1311 Points)
Replied 03 August 2010
not my friend laxmi.....dividend from indian co. is exempted u/s 10(34)
Kip Smyling alwayz
Mohit Jangid
(Article)
(141 Points)
Replied 03 August 2010
exempt u/s 10(34) because company has already paid tax on its income.
DDT is levied only on distribution of dividend (income is respect of co.), so DDT has no role to play in double taxable.
The very fact that company has already paid tax on its income y owners will bear tax..same in case of huf and partnership firm..
| Originally posted by : FATEMA | ||
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Dear Lakshmi, The dividend distributed by an Indian Company is subject to dividend distribution tax.It is exempt from tax in the hands of recipient under section 10(34) to avoid double taxation. Regards, Fatema. |
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Kavitha.S
(Company Secretary)
(369 Points)
Replied 04 August 2010
Dividend is exempted from tax u/s 10 (34)
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