Section 80M articles

Taxation of Dividends -In The Hands of Shareholders

We know that before Finance Act, 2020 a dividend received from a domestic company is exempt in the hands of shareholders. Because company declaring dividend is required to pay Dividend Distribution Tax (DDT) under provisions of Section 115O of the Income Tax Act,1961 before crediting amount of dividend into account of shareholders. Many b...

Posted Under: Income Tax |

Section 80M- Deduction – Inter-corporate dividends

Salient Features on Deduction us 80M with other ancillary aspects of the Income Tax Act, 1961 Amidst high expectations the Finance Bill, 2020 was presented by Hon’ble Finance Minister before The House of Parliament on 1st February 2020. The Finance Bill, 2020 proposes 104 amendments including Re-Taxation of Dividend Income in the hands ...

Posted Under: Income Tax |

Taxability of Dividend under new tax regime

A. Existing Provisions relating to dividend taxation: (i) Tax implication in the hands of company: Under the existing laws, even though dividend constituted income in the hands of the shareholders, the tax on such dividend was payable by the company which declared dividend, @ 15% of the gross dividend under section 115-O (plus surcharge a...

Posted Under: Income Tax |

Short Notes on Section 80M deduction Re-inserted vide finance Act , 2020

1) Deductions u/s 80M is a Deduction not an exemption. The very basic difference between exemption & deduction is that losses from the sources of income which is otherwise exempted had no tax treatment & however losses from a income which a allowed as deduction shall have tax treatment in accordance with the provisions of [&hellip...

Posted Under: Income Tax |

Abolishment of DDT & other significant amendments for Dividend income -Part I

In Finance Bill, 2020 (Bill) , one of the Biggest move of the government was abolishing the DDT charged u/s 115-O of the Income Tax Act , 1961 (the Act). However government has inserted/ amended certain sections to make the Dividend income taxable in the hands of receiver by removing Section 10(34) of the Act. […]...

Posted Under: Income Tax |

Taxation of dividends – Change of hands!

The Union Budget 2020 (‘Budget 2020’) was presented by the Honorable Finance Minister on 1 February 2020. All had set their eyes to witness what this Budget would unveil for reviving Indian economy. At the introduction of the speech, the Honorable FM mentioned that the existing Government wishes to open up vistas for a vibrant [&helli...

Posted Under: Income Tax |

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