Dividend distribution tax

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brijesh (Querist)
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10 August 2011 Respected Sir/Madam,

I am preparing a balance sheet as on 31/03/2011. I want to declare dividend at AGM which will be held at 20/08/2011.

1. For Provision of Dividend Distribution Tax, which A.Y. i should consider for tax rate? and Why ?

2. which A.Y. should be quoted on IT Challan?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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10 August 2011 It is A. Y 2011-12 as you are declaring dividend on the income as at 31.3.2011.

brijesh

brijesh (Querist)
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11 August 2011 No Sir,
I think it should be A.Y. 2012-13 because on 31st march,2011 ,it is proposed dividend and not declared. so the Tax will be applicable as per finance act,2011.