Poonam (Sr.Fin.Executive) (84 Points)
19 May 2010Hi, Suppose a private trust is a shareholder of Infosys Ltd. Every year this trust receives dividend from this company. What would be the tax impact in the books of Private Trust under- 1. If no expense is incurred by this Trust. 2. The trust applied this dividend income by way of donation to Public Charitable Trusts
Nicky
(Chartered Accountant)
(245 Points)
Replied 19 May 2010
Infosys being an Indian Company deducts DTT u/s 115 O at the time of payment of Dividend
Now in the hands of the trust it is taxfree u/s 10(34)
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