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    Publish Date : 01 Feb 2018

    Industry body CII has sought rationalisation of the dividend distribution tax rate to 10 per cent in the upcoming Budget to encourage participation of different stakeholders in the country's financial markets.

    Alternatively, to negate the multiple level taxation issues pertaining to dividend distributed, the dividend paying company should pay tax on its profits, including distributed profits at corporate rates, the chamber said in the detailed representation submitted to the government for consideration.

    Dividend should be taxed at the hands of the non- corporate (leveraged) shareholders as normal income, and expenses should be allowed against such dividend in full. - www.business-standard.com [15-01-2018]