Adjustment of tds against dividend distribution tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2013
Can credit of tax deducted at source available under Section 199 of the Income Tax Act, 1961 be utilised against liability of Dividend Distribution Tax under Section 115-O of the Income Tax Act, 1961.
10 October 2013
No it is not possible.
10 October 2013
No because the former is 'taxes on income' and the latter is 'tax on distributed profits' which can't be equated.
10 October 2013
Not at all. These taxes are not fungible.
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