DJPA, LLP, resident in India has received dividend of ₹15 lakh from R Ltd., an Indian company, on which the company R Ltd. had paid Dividend Distribution Tax (DDT) under section 115-O of the Income-Tax Act, 1961. The amo

CS Executive · Tax Laws and Practice · PYQS · December 2018
DJPA, LLP, resident in India has received dividend of ₹15 lakh from R Ltd., an Indian company, on which the company R Ltd. had paid Dividend Distribution Tax (DDT) under section 115-O of the Income-Tax Act, 1961. The amount of tax payable by DJPA, LLP in respect of such dividend income for A.Y. 2018-19 shall be:
(A) ₹5 lakh
(B) ₹10 lakh
(C) ₹51,500
(D) ₹77,250

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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