Exemption from tax under Section 115-O - Tax on distributed ...

Court Rules Petitioner Exempt from Additional Income Tax on Distributed Profits u/s 115-O, SIDBI Act Section 50 Applies.

December 11, 2021

Case Laws Income Tax HC

Exemption from tax under Section 115-O - Tax on distributed profit / Dividend Tax - Once it is held that the amount distributed or paid by Petitioner by way of dividend falls in the category of profits under Section 50 of the SIDBI Act, on any income, profits, gains derived or any amount received, Petitioner shall not be liable to pay income tax or any other tax in the relevant years. Therefore Petitioner was not liable to pay additional income tax under Section 115-O of the said Act. - HC

View Source

← Previous Next →

Exemption from tax under Section 115-O - Tax on distributed ...

Court Rules Petitioner Exempt from Additional Income Tax on Distributed Profits u/s 115-O, SIDBI Act Section 50 Applies.

December 11, 2021

Case Laws Income Tax HC

You may also like:

Taxability of dividend as declared, distributed or paid by a domestic company to a non-resident shareholder(s) which attracts Additional Income Tax (Tax on Distributed...

As decided in Total Oil India (P.) Ltd., where a domestic company declares, distributes or pays dividend to a non-resident shareholder(s), the Additional Income-tax (Tax...

The ITAT held that where a domestic company declares, distributes, or pays dividends to non-resident shareholders, attracting Additional Income-tax (Tax on Distributed...

MAT computation - Book Profit - addition of interest on income tax refund to the Net Profit - As there is no dispute on the fact that assessee has offered interest on...

Amendment of section 115-O. - DDT - no tax on distributed profits shall be chargeable in respect of the total income of a company being a unit of an International...

Taxability of dividends - dividend is declared, distributed or paid by a domestic company to a non-resident shareholder(s) - The Tribunal held that, additional income...

Amendment of section 115-O. - DDT - no tax on distributed profits shall be chargeable under this section in respect of any amount declared, distributed or paid by the...

Exemption u/s 10(34) - dividend income received by SARA fund - When the company with which SARA Fund has been invested, had already paid additional income tax on the...

Entitlement to exemption u/s 10(34) - When the company with which SARA Fund has been invested, had already paid additional income tax on the earned dividend as required...

Refund of excess Dividend Distribution Tax - additional income tax payable by the domestic company shall be at the rate mentioned in section 115-O of the Act and not at...

Profit estimation on unaccounted turnover: AO estimated 8% profit based on seized material, which was reduced to 5% by CIT(A). ITAT held that in case of profit...

Deemed divided u/s 2(22)(e) requires arriving at accumulated profits by deducting depreciation as per Income-tax Act rates. Bombay High Court in Navnit Lal C Javeri and...

Assessee company paid Dividend Distribution Tax (DDT) on dividends distributed to its holding company, a tax resident of Mauritius, at higher rates under the Income Tax...

Tax on profit distributed as dividend u/s. 115-O is allowable as deduction in computation of book profits for the purpose of section 115JB of the Act - AT

Taxable income to tax u/s 44BB v/s Section 44DA read with section 9(l)(vii) - The profit from this income was estimated at 25% and offered to tax at 40% plus applicable...

Quick Updates: