SUPPOSE THAT THE DIVIDEND FROM THE LISTED EQUITY SHARES IS THE ONLY INCOME IN X LTD AND BEING AN INDIAN COMPANY IT IS EXEMPTED FROM TAX U/ S 10(34).
AND NOW , IS DIVIDEND DISTRIBUTION TAX IS PAYABLE ON THE DIVIDEND DECLEARED TO EQUITY SHARE HOLDERS OF X LTD OUT OF DIVIDEND INCOME OF THE X LTD FROM LISTED EQUITY SHARES?
You have to pay the dividend distribution tax for the same.
Yes definately, Xltd. have to pay dividend distribution tax on dividend declared by Xltd to its shareholders.
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