Taxability of dividend

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Ninad Pandit (Querist)
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12 October 2011 WHAT IS THE TAXABILITY OF DIVIDEND RECEIVED BY PARENT COMPANY(INCORPORATED IN INDIA) FROM ITS SUBSIDIARY COMPANY(ALSO INCORPORATED IN INDIA) ?? THE SUBSIDIARY CO. HAS PAID DIVIDEND DISTRIBUTION TAX...

CA.E.Deepan Chakravarthy

CA.E.Deepan Chakravarthy (Expert)
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12 October 2011 TO mitigate the cascading effect of dividend distribution tax upto one level w.e.f 1/4/08, DDT will be calculated:
16.60875 (dividend paid,declared or distributed by the assessee company(domestic company) - dividend received during the year from its subsidiary company).
The following conditions need to be satisfied to claim the credit:
1.Subsidiary Company has paid DDT u/s.115O 2.It is subsidiary to the only said holding company.
3.DDT is not already taken credit.

Ninad Pandit

Ninad Pandit (Querist)
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12 October 2011 so, will the dividend income recd by parent co from its subsidiary co be exempt from tax?

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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12 October 2011 DIVIDEND RECD WILL BE EXEMPT IN THE HANDS OF PARENT CO
CA MANOJ GUPTA
JODHPUR
09828510543

Ninad Pandit

Ninad Pandit (Querist)
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13 October 2011 THANK YOU FOR THE VALUABLE REPLY

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