Tax on share of profit received from the closely held company
Vidhi Shah (3 Points)
08 December 2022paid income tax on 10 Lacs @ 30% = 3 lacs
Balance profit after tax= 7 lacs transferred to it's share holders.
Will such share received from company be taxable in the hands of shareholders?
Doubt: Income of 10 lacs already taxed once. Will it be taxed again?