Corporate Dividend Tax

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Rohit Agarwal (Querist)
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19 May 2011 If CDT is to be provided on proposed dividend for year ending 31st March 2011, then what would be the CDT rate, whether 16.2225% or 16.60875% and why.

CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)
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19 May 2011 It should be @16.2225% as tax becomes payable on earliest of Following :_
a) date of declaration,or
b) date of distribution,or
c) date of payment
as proposed dividend is just provision and would be available for payment to shareholder from the date declaration by company in AGM which definatly would fall in the FY 2011-12 thus rate should be 16.2225%

Rohit Agarwal

Rohit Agarwal (Querist)
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19 May 2011 Please provide references on the same.

CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)
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19 May 2011 sub-section(3) of section-115O

Rohit Agarwal

Rohit Agarwal (Querist)
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19 May 2011 With references I mean any solved examples of any books or excerpts of the same

Aditya Maheshwari

Aditya Maheshwari (Expert)
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19 May 2011 Rates in force would be applicable on the time of declaration. So it would be 16.2225 only.

YOu can read any ready referencer for further clarity.

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