Hi, 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
2 Replies
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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