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Dividend treatment

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(Querist)
08 January 2013 Can any one help me to know, what will be the tax treatment for profit and reserve & surplus in case of winding up of company. Will it be termed as dividend or something else.
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srinivasan

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srinivasan (Expert)
09 January 2013 The accumulated profits of the company as on the date of liquidation will partake the nature of dividend as per sec. 2(22)(c)and such dividend is liable for dividend distribution tax u/s 115O.

Any amount distributed to the share holders in excess of the capital and the accumulated profits as on the date of liquidation will partake the nature of capital gains as per Sec.46 read with sec 48 of the IT Act.
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ARPIT NAGAR

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ARPIT NAGAR (Querist)
09 January 2013 thnx for the help sir
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