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Disallowance of DDT

This query is : Resolved 

20 May 2011 if DDT is not paid within 14 days of declaration, whether the dividend and DDT on the same is allowed or not ? under IT Act


20 May 2011 In the hands of the company both dividend and DDT are not allowable expeses. Hence, allowability of Dividend and DDT is not applicable.

20 May 2011 IF DDT paid late then only interest payable on delay in payment and no other consequence as dividend paid is not an allowable expenses.

21 May 2011 thanks a lot sir.......


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