Dividend tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 June 2010
please inform me if a company made profit for the 2010 Rs.48000/-and wish to pay dividend 15000/- to its shareholder(total 15000 eq. share @ Rs.1/-each) then what will be the dividend tax for the year, and what will bethe entry ,please solve my problem
04 June 2010
The dividend distribution tax will be 15% + 10% surchage + 2+1% cess.
Provision for dividend and provision for DDT will be credited and an equal amount will be debited from the P & L Appropriation account.
At the time of payment of dividend and the tax, the provisions will be reversed by the actual payments.
Provision for dividend and provision for DDT will be credited and an equal amount will be debited from the P & L Appropriation account.
At the time of payment of dividend and the tax, the provisions will be reversed by the actual payments.
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