Dividend
This query is : Resolved
Dhruvesh Shah
(Querist)
11 September 2009
If there is a company established in SEZ then the income of company is exempt u/s 10AA. Then if the Co. distributes the dividend to the shareholders then will the Co. pay the Corporate Dividend Distribution Tax? Provide me the notification or circular regarding the same.
chetan soni
(Expert)
11 September 2009
income from SEZ is exempt from tax.
Sec 115O (6) says Notwithstanding anything contained in this section, no tax on distributed profits shall be chargeable in respect of the total income of an undertaking or enterprise engaged in developing or developing and operating or developing, operating and maintaining a Special Economic Zone for any assessment year on any amount declared, distributed or paid by such Developer or enterprise, by way of dividends (whether interim or otherwise) on or after the 1st day of April, 2005 out of its current income either in the hands of the Developer or enterprise or the person receiving such dividend.
Sec 115O (6) says Notwithstanding anything contained in this section, no tax on distributed profits shall be chargeable in respect of the total income of an undertaking or enterprise engaged in developing or developing and operating or developing, operating and maintaining a Special Economic Zone for any assessment year on any amount declared, distributed or paid by such Developer or enterprise, by way of dividends (whether interim or otherwise) on or after the 1st day of April, 2005 out of its current income either in the hands of the Developer or enterprise or the person receiving such dividend.
Dhruvesh Shah
(Querist)
11 September 2009
Ya but is thre any clarification about the same?
chetan soni
(Expert)
14 September 2009
it is there in section itself, whatelse clarification you need?
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