DLF Limited, an Indian domestic company received an amount of ₹15 lakh as dividend declared and distributed on 18.11.2019 by John Miller Inc of UK in which it holds 30% in nominal value of equity share capital. Indian co

CS Executive · Tax Laws · PYQS · December 2020
DLF Limited, an Indian domestic company received an amount of ₹15 lakh as dividend declared and distributed on 18.11.2019 by John Miller Inc of UK in which it holds 30% in nominal value of equity share capital. Indian company has paid interest of ₹5 lakh on the amount invested in the shares of John Miller Inc. The tax payable (rounded off in nearby two decimal points) on the amount of dividend received by the Indian company in assessment year 2020-21 shall be
(A) ₹3.12 lakh
(B) ₹2.50 lakh
(C) ₹2.34 lakh
(D) ₹2.68 lakh

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Assessment of Companies

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