Dividend distribution tax - credit
This query is : Resolved
22 June 2013
Dear all,
My query is regarding the DDT - Credit
case is -
amalgamating company distributing dividend to amalgamated comapny who is holding of amagamating company.
since dividend is paid after appointment date of scheme but before effective date of scheme.
after the effective date, company will be one company, that means company paid dividend to itself on which it paid DDT, which is illogical, can amalgamated company claim for Credit for tax paid on didvidend.
Kindly reply
Regards
Vikash
My query is regarding the DDT - Credit
case is -
amalgamating company distributing dividend to amalgamated comapny who is holding of amagamating company.
since dividend is paid after appointment date of scheme but before effective date of scheme.
after the effective date, company will be one company, that means company paid dividend to itself on which it paid DDT, which is illogical, can amalgamated company claim for Credit for tax paid on didvidend.
Kindly reply
Regards
Vikash
22 June 2013
Credit can't be claimed by virtue of section 115O(4) of the Income tax Act,1961.
22 June 2013
sir, even if tax is paid wrongly or case specific
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