Whether tax is deducted on redemption on preference share
This query is : Open
24 April 2012
Before the Budget 2012, Service Tax :
1. Hotel Service : 50% abatement.
2. Restaurent service : 70% abatement.
But now what are the effects of the following 2 notifications on the same?
http://www.servicetax.gov.in/notifications/notfns-2012/st13-2012.htm
http://www.servicetax.gov.in/notifications/notfns-2012/st11-2012.htm
1. Hotel Service : 50% abatement.
2. Restaurent service : 70% abatement.
But now what are the effects of the following 2 notifications on the same?
http://www.servicetax.gov.in/notifications/notfns-2012/st13-2012.htm
http://www.servicetax.gov.in/notifications/notfns-2012/st11-2012.htm
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 April 2012
Hi,
If a company pay dividend on Equity or/and preference share, company have to pay tax on dividend. But if a company redeem preference share on premimum, Whether company have to pay tax on premimum, If No, Why?
If a company pay dividend on Equity or/and preference share, company have to pay tax on dividend. But if a company redeem preference share on premimum, Whether company have to pay tax on premimum, If No, Why?
24 April 2012
no, as it is a capital receipt.
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