Income tax liability

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abhirath (Querist)
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29 November 2016 Sir now Mr Mukesh ambani is the chairman and MD of Reliance industries ltd (RIL) . Now RIL as a company is liable to pay income tax @ 30 rate. My question is , is Mukesh ambani personally liable to pay income tax out of the profits derived by him from the company ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 November 2016 He is liable to pay 10% tax on dividend received from the company(assume the receipt exceeds 10 lacs).

abhirath

abhirath (Querist)
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29 November 2016 Sir what about income other than dividend ? Like share of profit

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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04 November 2021 Share of profit, over which company paid tax, is not taxable again in the hands of shareholder, unless it is distributed.

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