Applicable rate of dividend distribution tax for 2012-13

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CA Makrand Nashikkar (Querist)
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23 April 2013 Sir/ Madam,

I have been receiving different opinions with respect to rate which will be applicable for Dividend Distribution Tax for the financial year 2012-13. Some say that the rate will be 15% + 5% (surcharge) + 3% (cess). Other opine that the rate will be 15% + 10% (surcharge) + 3% (cess)i.e.the rate applicable for 2013-14. According to me, since Sec.115-O of IT Act specifically mentions "dividend declared, paid or distributed" the applicable rate should be that for FY 2013-14, as the dividend for FY 2012-13 will be declared/paid/ distributed in FY 2013-14. Please clarify my doubt at earliest. Please mail your replies on maknash@gmail.com and makrand.nashikkar@gacl.co.in.

Thanking you

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

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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30 June 2013 There is no change in the Dividend distribution tax

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