Dividend Tax

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P.T. DAYANANDAN (Querist)
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12 January 2010 Can any one inform the rate of Dividend Tax and E.C payable for the dividend declared for the financial year 2008-09 and time limit

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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12 January 2010 Section is 115 O of the Income tax Act,1961.
Rate of tax is 15.45% ie tax @ 15% + education cess @2% of tax + secondary and higher education cess @ 1% of tax.
Time limit is with in 14 days from the date of-
declaration of dividend or
distribution of dividend or
payment of dividend, which ever is earlier.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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12 January 2010 Yes DDT is 15.45 %

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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13 January 2010 I am sorry sir, but i think there is also surcharge is applicable on basic tax rate. Therefore, Corporate Dividend Tax(CDT) Taxable % will be as follow:

=15 + 10% * 15 + (15*10%)*3%
= 16.995%

Here, 15 is basic tax rate
10 is surcharge
3 is EC & SHEC

Regards!!!
Dinesh S. Adhikari

P.T. DAYANANDAN

P.T. DAYANANDAN (Querist)
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18 January 2010 Thank you very much for the informn.

Corporate Dividend Tax - 16.995%

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