Section 115o
This query is : Resolved
24 September 2011
Sirs & Friends,
As per Income Tax Act a domestic company declaring or distributing dividend is supposed to deducted Income Tax (TDS), If suppose the company fails to do so, will such Dividend be taxable in the hands of the received or Shareholder. Please help me to clear my doubts.
Thanking you,
As per Income Tax Act a domestic company declaring or distributing dividend is supposed to deducted Income Tax (TDS), If suppose the company fails to do so, will such Dividend be taxable in the hands of the received or Shareholder. Please help me to clear my doubts.
Thanking you,
24 September 2011
Dividend is an exempted income, {section 10(34}, in the hands of recipient's if company had paid DDT under section 115O. As a corollary, if company doesn't pay DDT, it is taxable in the hands of recipient's.
25 September 2011
Thank you sir for your reply but would like to ask how will a recipient come to know that the company has not deducted tax on the Dividend.
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