Dividend

Dividend Tax – Journey From Least Favoured To ‘Most Favoured’ ?

Income Tax - Dividend taxation has had a very enriching history in respect of its mode of taxation, collection of taxes and rate of taxation.  Further, going by what we have seen in the past couple of years, it looks like the tax authorities, the tax payers and the judiciary have no intention to take the spice out of it, especially when it comes to t...

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Tax planning with respect to Dividends

Income Tax - Tax planning with respect to Dividends for Assessment Years 2020-2021, 2021-2022 and Assessment Year 2022-2013. I hereby try to give a simplified version of Tax planning with respect to Dividends for the Assessment Years 2020-2021, 2021-2022 and Assessment Year 2022-2013. I. Assessment Year 2020-2021. You have to understand the following ...

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Buyback V/s Dividend And Its Taxation

Income Tax - Buyback of shares is when a company repurchases the shares issued by it from the existing shareholders. The company buys back its shares usually at market value or higher. Companies use buy back as a means to return cash to shareholders and regain ownership. Tax on buyback of shares in India is now regulated by […]...

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Dividend Taxability under Income Tax Act, 1961

Income Tax - From 1 April 2020, Dividend Income will be taxable in the hands recipient shareholders as per the slab rate applicable on them. Earlier Dividend Income was exempt in the hands of Shareholders under Section 10(34) and tax on such dividend was payable by the Company under section 115-O. In which Year Dividend is Taxable when […]...

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Key Income Tax changes for A.Y 2021-22

Income Tax - Hello readers, Today I will discuss key changes in ITR Forms for A.Y 2021-22 in simplified form- ♦ Regarding changes in ITR-1- ITR-1 cannot be filed in case tax has been deducted u/s 194N Now what is Section 194N-TDS u/s 194N is required to be deducted if amount of cash withdrawn exceeds – Exceeds Rs […]...

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ITAT grants stay on demands of Rs. 3786 Cr on account of DDT

Grasim Industries Limited Vs DCIT (ITAT Mumbai) - Grasim Industries Limited Vs DCIT (ITAT Mumbai) By way of this stay application, the assessee applicant has sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 3,786.34 crores in respect of the dividend distribution tax (DDT), and interest thereon, under section 115...

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Section 10(34) & 10(38) exemption on dividend & LTCG of VCU earned by SARA Fund

Japan International Co-operation Agency (JICA) Vs ACIT (Intl. Taxation) (ITAT Delhi) - Japan International Co-operation Agency (JICA) Vs ACIT (ITAT Delhi) A.O. as well as Ld. CIT(A) have taken a wrong view by holding that the assessee cannot grow tax-free income u/ss 10(34) and 10(35) of the Acts unless additional tax has been paid as per the provisions of Sections 115-0 and 115-R of ...

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Tax rates specified in DTAA in respect of dividend must prevail over DDT

Giesecke & Devrient [India] Pvt Ltd. Vs Add. CIT (ITAT Delhi) - Giesecke & Devrient [India] Pvt Ltd. Vs ACIT (ITAT Delhi) To recapitulate, the DDT is levy on the dividend distributed by the payer company, being an additional tax is covered by the definition of ‘Tax’ as defined u/s 2(43) of the Act which is covered by the charging section 4 of the Act and...

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Recent Posts in "Dividend"

Dividend Tax – Journey From Least Favoured To ‘Most Favoured’ ?

Dividend taxation has had a very enriching history in respect of its mode of taxation, collection of taxes and rate of taxation.  Further, going by what we have seen in the past couple of years, it looks like the tax authorities, the tax payers and the judiciary have no intention to take the spice out of it, especially when it comes to t...

Read More
Posted Under: Company Law |

Tax planning with respect to Dividends

Tax planning with respect to Dividends for Assessment Years 2020-2021, 2021-2022 and Assessment Year 2022-2013. I hereby try to give a simplified version of Tax planning with respect to Dividends for the Assessment Years 2020-2021, 2021-2022 and Assessment Year 2022-2013. I. Assessment Year 2020-2021. You have to understand the following ...

Read More
Posted Under: Company Law |

Buyback V/s Dividend And Its Taxation

Buyback of shares is when a company repurchases the shares issued by it from the existing shareholders. The company buys back its shares usually at market value or higher. Companies use buy back as a means to return cash to shareholders and regain ownership. Tax on buyback of shares in India is now regulated by […]...

Read More
Posted Under: Company Law |

Dividend Taxability under Income Tax Act, 1961

From 1 April 2020, Dividend Income will be taxable in the hands recipient shareholders as per the slab rate applicable on them. Earlier Dividend Income was exempt in the hands of Shareholders under Section 10(34) and tax on such dividend was payable by the Company under section 115-O. In which Year Dividend is Taxable when […]...

Read More
Posted Under: Company Law |

ITAT grants stay on demands of Rs. 3786 Cr on account of DDT

Grasim Industries Limited Vs DCIT (ITAT Mumbai)

Grasim Industries Limited Vs DCIT (ITAT Mumbai) By way of this stay application, the assessee applicant has sought a stay on collection/ recovery of tax and interest demands aggregating to Rs 3,786.34 crores in respect of the dividend distribution tax (DDT), and interest thereon, under section 115O/115Q r.w.s. 2(22)(a) of the Income Tax...

Read More

Key Income Tax changes for A.Y 2021-22

Hello readers, Today I will discuss key changes in ITR Forms for A.Y 2021-22 in simplified form- ♦ Regarding changes in ITR-1- ITR-1 cannot be filed in case tax has been deducted u/s 194N Now what is Section 194N-TDS u/s 194N is required to be deducted if amount of cash withdrawn exceeds – Exceeds Rs […]...

Read More
Posted Under: Company Law |

Distribution of Dividend under Companies Act, 2013 – FAQs

The Operation of the company revolves around the presence of shareholders and the Directors of the company. The shareholders of the company provide Funds to the directors and the directors use these Funds to perform the business operations. The profits arising out of such business operations are distributed to the shareholders in the form...

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Posted Under: Company Law |

TDS on Dividend on Equity Shares

The company distributing dividends to the investors of equity shares should deduct TDS on such dividends. The deductor must deposit the TDS and file the TDS Return on TRACES....

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Posted Under: Company Law |

Tax treatment of dividend received from company

Under the current scenario up to  AY 2020-21, if a shareholder gets dividend from a domestic company then he shall not be liable to pay any tax on such dividend as it is exempt from tax under section 10(34) of the Act. However, in such cases, the domestic company is liable to pay a Dividend […]...

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Posted Under: Company Law |

Recovery of Unclaimed Investment of TCS from IEPF Can Make You Rich!

Tata Consultancy Service Ltd. (TCS) is an IT sector market leader in India and is one of the largest IT MNCs in the world. The company specialises in IT outsourcing and consultancy services and has a repute for giving the best solutions to any client. It has handled many projects from the government and private […]...

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Posted Under: Company Law |

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