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Dividend distribution tax (Corporate Law)

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This query is : Resolved

( Querist )
07 April 2010

Hi freinds,

I wish to know can a company declare and pay dividend for the financial year even after AGM has been held.
How to calculate dividend distribution tax where company is having share capital of Rs.5,00,00,000.00 dividend in to 5000000 shares and company is declaring dividend @Re.1 per share.



CA Shivang

( Expert )
07 April 2010

calculate tax on the dividend amt...

CA. Ashish Bihani

( Expert )
07 April 2010

Dividend Distribution Tax (F.Y. 2009-10) should be calculated @ 16.995%.

Total dividend to be paid - Rs.50,00,000/-.

Therefore, total dividend distribution tax to be paid -
50,00,000 x 16.995 = 8,49,750/-.


( Expert )
11 April 2010

At the time of finalisation of accounts, the Board of Directors propose the dividend. on the basis of such proposal of the Board, the provision for dividend and provision for dividend distribution tax are made in the balance sheet for the particular year.

The dividend gets confirmed by the members at the AGM and such dividend and DDT has to be paid within the stipulated period.



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