A domestic company distributed a dividend of ₹30,00,000 to its shareholders. Out of this dividend, ₹4,00,000 paid to a person on behalf of the New Pension System Trust and ₹1,00,000 paid to another corporate shareholder.
CS Executive · Tax Laws and Practice · PYQS · June 2016
A domestic company distributed a dividend of ₹30,00,000 to its shareholders. Out of this dividend, ₹4,00,000 paid to a person on behalf of the New Pension System Trust and ₹1,00,000 paid to another corporate shareholder. The company also received a dividend of ₹2,00,000 from its subsidiary which paid dividend distribution tax under section 115-O. In this case, the amount of dividend subject to dividend distribution tax for the domestic company will be —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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