Sec 115-o

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FENIL SHAH

FENIL SHAH (Querist)
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13 March 2012 what is interest or penalty for non payment of tax under sec 115-0 on dividend on preference share?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 March 2012 1. Simple interest @ 1 % for every month or part thereof on the amount of such tax for the period beginning on the date immediately after the last date to the date on which tax is paid.
2. Penalty is equal to tax that should have been paid.

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FENIL SHAH

FENIL SHAH (Querist)
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13 March 2012 Thanks sir for giving me reply.Please give me reference of section of it.and also due date of payment of dividend distribution tax if Proposed dividend is declared on 01.10.2011 for the F.Y.2010-11.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 March 2012 1. 115P.
2. 271C(1)(b)(i).

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