Rate of DDT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2011
What is the rate of Dividend distribution Tax in the brand new budget 2011 which has just came?
02 March 2011
Certain amendments are in the section but the rate is not changed meaning thereby it remains at 15%.
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2011
but what is about 16.2225%
02 March 2011
15 % is the tax rate as per section 115O. It should be increased by surcharge ,if applicable, further increased by education cess and secondary and higher education cess. However, calculation of 16.225% is not known to me.
02 March 2011
I stand corrected.
The Finance Bill,2011 has amended the rate of surcharge @ 5% vide section 4 of the said bill. Accordingly, if the said bill becomes an act, the rate of DDT for those companies to whom surchage is applicable will be as follows:-
DDT- BASIC RATE - 15.000
SURCHARGE @ 5% - 0.750
EDUCATION CESS @2% - 0.315
SECONDARY&HIGHER EDUCTION CESS @1% - 0.158
TOTAL - 16.223
The Finance Bill,2011 has amended the rate of surcharge @ 5% vide section 4 of the said bill. Accordingly, if the said bill becomes an act, the rate of DDT for those companies to whom surchage is applicable will be as follows:-
DDT- BASIC RATE - 15.000
SURCHARGE @ 5% - 0.750
EDUCATION CESS @2% - 0.315
SECONDARY&HIGHER EDUCTION CESS @1% - 0.158
TOTAL - 16.223
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