Dividend received by companies whether taxable
This query is : Resolved
23 September 2013
a pvt. ltd. company has invested in mutual funds, for which it is receiving dividend income. whether it is taxable?
Ajay Mishra
(Expert)
23 September 2013
Go to the following link:
https://www.goodreturns.in/personal-finance/investment/2013/05/is-income-from-mutual-funds-taxable-174047.html
https://www.goodreturns.in/personal-finance/investment/2013/05/is-income-from-mutual-funds-taxable-174047.html
Ajay Mishra
(Expert)
23 September 2013
During the financial year 2003-2004, as per section 115-O of the Income-tax Act, 1961, dividend other than deemed dividend under section 2(22)(e) will be subject to payment of tax by the companies declaring dividend @ 12.5% plus surcharge of 0.3125.
With effect from 1st April, 2003, no deduction of tax will be made by an Indian company on dividend paid by it to resident shareholders who are individuals or Indian companies.
During the financial year 2003-2004, as per section 115-O of the Income-tax Act, 1961, dividend other than deemed dividend under section 2(22)(e) will be subject to payment of tax by the companies declaring dividend @ 12.5% plus surcharge of 0.3125.
With effect from 1st April, 2003, no deduction of tax will be made by an Indian company on dividend paid by it to resident shareholders who are individuals or Indian companies.
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