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Deemed Dividend tax


Ajinkya Deodhar   05 April 2020

Ajinkya Deodhar

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In a deemed dividend situation what is the DEEMED DIVIDEND TAX to be paid by the company. Also whether it is tax free in the hands of the shareholders or more than 10 lacs will be taxable ?

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NAVEEN CHAND (Just keep going. You never know how far you can go.)     05 April 2020

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Deemed Dividend u/s 2(22)(a) / (b) / (c) / (d) = taxable in the hands of shareholders subject to Sec. 115 BBDA (limit or Rs. 10,00,000) 

However , Deemed Dividend u/s 2(22)(e) = exempt in the hands of shareholders 

 

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NAVEEN CHAND (Just keep going. You never know how far you can go.)     05 April 2020

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Deemed Dividend u/s 2(22)(a) / (b) / (c) / (d) = Company pays DDT u/s 115 O (with Gross - Up) 

However , Deemed Dividend u/s 2(22)(e) = Company pays DDT @ 30 % (without Gross - Up) 

Mandakulathur Ananthanarayanan   07 April 2020

Mandakulathur Ananthanarayanan

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It is to be noted that w.e.f April 1, 2020, dividends are taxable only in the hands of shareholders including in the deemed dividend scenario. so, tax rates will be based on the taxability of shareholders


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