Section 115o of income tax act 1961

SOUMYA SENGUPTA (EXECUTIVE) (37 Points)

03 November 2012  

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?