Parmod Agarwal (Assistant Manager) (394 Points)
16 July 2010Dear All,
please provide me the corporate Dividend Tax Rate which is applicable for the financial year 2010-11, Dividend declared by the company. It is complusory to the company to deduct TDS on the Director Sitting Fee above Rs. 20000/-
to sleeping Director.
Plz clarify.
Thanks
Parmod
vivek
(CS)
(751 Points)
Replied 16 July 2010
1. DDT will be 16.995% (i.e. 15% DDT+ 10% Surcharge+2% Edu Cess and 1% SHEC).
2. TDS is deducted on paid amount to a concerned person in F.Y. irrespective of the nature of Directorship.
Regards,
Madhusudan Kabra
(knowledge seeker)
(1779 Points)
Replied 16 July 2010
agreed with vivek ...
Regards
Madhusudan
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 16 July 2010
During the financial year 2010-11 the Dividend Distribution Tax under section 115-O would be as under
Tax=15%
Surcharge=7.5% i.e.1.125
Cess=3%0.48375
Total Dividend Distribution Tax=16.60875
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
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