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Companies Act, 2013, contains various provisions relating to the payment of dividends by companies to their shareholders. These provisions lay down the legal framework for the payment of dividends and set out the rights and obligations of companies and shareholders.
The income tax law of taxing dividends came into effect from April 1, 2020 (FY 2020-21). Earlier, the dividends were tax-free in the hands of investors. However, now dividends received from equity shares or any mutual fund schemes (equity or non-equity) are taxable in the hands of an investor.
Navigate tax planning for dividends in Assessment Years 2021-2025. Understand key provisions, definitions, tax rates, TDS, and recent amendments for informed financial decisions.
In simple terms, a dividend is a reward company offers shareholders (investors who have invested in shares) for staying invested in its capital. It is a way through which a company shares it profits with shareholders.
Dividend distribution tax is one of the most controversial topics in the income tax area, and it has welcomed many judicial decisions. DDT is a tax levied on dividends distributed by companies out of their profits amongst their shareholders.[
The US federal bifurcates the taxpayers into two prominent heads – Non-resident Aliens (NRA) and Resident Aliens. Usually, a resident alien is taxed on their worldwide income, the same as a US citizen. Resident aliens have to report all types of income and the amounts earned inside and outside the US.
Explore the intricacies of Interim Dividend as we delve into its definition, features, and legal aspects. Learn about the sources of payment, conditions for declaring, and examples for better comprehension. Clear your confusions with insights from this comprehensive article by CS Divesh Goyal.
A dividend is a portion of a company’s profits that are given to each shareholder. The Board of Directors determines and declares the quantity and quality of dividends. A dividend can be final or interim; the former is announced at the conclusion of the fiscal year, while the latter is announced on a quarterly or semi-annual basis.
ITAT Mumbai held that in terms of the provisions of the applicable tax treaty, i.e., Indo-Mauritius tax treaty, and as the provisions of the applicable tax treaty, being more beneficial to the assessee, override the provisions of the domestic law, the taxability of the dividends on the IDRs fails.
Manmohan Textiles Limited Vs National Faceless Appeal Centre (ITAT Mumbai) Provisions of Section 10(34) of the Act which stood amended by the Finance Act, 2020 and is applicable from A.Y.2021-22 onwards. For the sake of convenience, the amended provisions of Section 10(34) of the Act are reproduced hereunder:- “[(34) any income by way of dividends […]
