Monday, March 10, 2008

Dividend Distribution Tax

Peeling the layers of DDT relief

Chennai, March 6 Much has been written about the Budget proposals relating to DDT (dividend distribution tax), more specifically, about the set-off of the tax paid by subsidiary on dividends declared to its parent. “Is it really a relief?” wonder Ms Saloni Singhal and Ms Vandana Ahuja, tax professionals with KPMG.
As you may be aware, a domestic company, in addition to the income-tax payable on its taxable profits, also pays DDT on dividends declared, distributed or paid to its shareholders.

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