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TMI BlogClarification - Dividend Tax Payment Assessment yearX X X X Extracts X X X X X X X X Extracts X X X X ..... Clarification - Dividend Tax Payment Assessment year X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Payment Assessment year confusion:- Annual Dividend for a Pvt Ltd company will be declared in the AGM on 30.09.2009. for the financial year 2008-2009. Dividend tax has to be paid after that. Now in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income tax challan what should be the assessment year ? should it be 2009-10 or should it be 2010-11. Dividend will be paid for the financial year 2008-2009 but declared in the financial year 200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9-10. Reply By Rama Krishana: The Reply: Financial Year (Previous Year) is the year in which the happening of an even in which tax liability is arisen. Since the tax liability is arising during the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... previous year 2009-10 (i.e. Assessment year 2010-2011), you should mention the assessment year accordingly as 2010-2011. Sub section 1A of section 115O is clear that it is related to happening of an e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vent. Moreover, accumulated profit can be used to distribute the dividend. It not necessary it must be related to immediate previous year's profit. Reply By Samit Banerjee: The Reply: Thank you Mr Ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... makrishana. My confusion got cleared. Thanks a lot. X X X X Extracts X X X X X X X X Extracts X X X X
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