Accounting entries for deemed dividend and d.d.t.

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 September 2012
Can anybody let me know what are the accounting entries for deemed dividend and dividend distribution tax in the books of corporate and its shareholder

28 September 2012 In my opinion , there should not be any entry passed for deemed dividend as it is deemed dividend under income tax act. Further, no dividend distribution tax is requird to pay on deemed dividend

28 September 2012 if deemed dividend attracted then it dose not involve any actual outflow , but liability regarding deemed dividend can be accounted.


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