Dividend distribution tax & transfer to General Reserve

[sathishkumar]

Dear Friends,

                       what is the percentage of dividend distribution tax, surcharge and cess for the year 2014-15. Further I want know the percentage of certain amount to be transferred from profit to general reserves if we declared the dividend for the year 2014-15. In companies act I couldn't find the ceiling limit.

Regards

R.Sathishkumar

[kanika sharma]

AS PER FINANCE ACT 2014 , THE RATE OF DDT IS SAME I.E. 15 % , SURCHARGE - 10% AND CESS 3% ON  DDT.

--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.
To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

--

Thanks & Regards

 

 CS Kanika 

 JJRSIPL

 Gurgaon

[R. Sathishkumar Sathishkumar]

Thank you for your immediate reply.

Regards

R.Sathishkumar

[Jayashree Chandrasekaran]

The transfer to general reserve limits has not been prescribed....it is left to the discretion of the Board

Jayashree

C.JAYASHREE
PROPRIETOR
S.GANESH&ASSOCIATES
CHENNAI
98840 17120

[VIMAL SHARMA Compliance]

Is it 16.995? are u sure it has not increased? 

Thanks & Regards,

Vimal Sharma

Move out of your comfort zone, You can only grow, if you are willing to feel awkward and uncomfortable, when you try something New..

[kanika sharma]

YES , In september it was planned to increase by 3% but not applicable.

Please visit

http://www.charteredclub.com/dividend-distribution-tax/

[VIMAL SHARMA Compliance]

http://taxguru.in/income-tax/income-tax-slab-financial-year-201516.html

[R. Sathishkumar Sathishkumar]

I have seen in Finance Budget 2015-16 saying that - Dividend distribution tax : 20.3576%.  whether this has implemented or it is applicable for FY 2015-16.

Ms.Jayashree mam,

                                   As per section 123(1)

Provided that a company may, before the declaration of any dividend in any financial year, transfer such percentage of its profits for that financial year as it may consider appropriate to the reserves of the company.

The above proviso says  "Company may transfer" Hence it is not mandatory.

therefore it is option of the Board.

is it correct?

On Wed, May 27, 2015 at 4:04 PM, VIMAL SHARMA Compliance <corp.comp...@gmail.com> wrote:

--

Regards

R.Sathishkumar

[Jayashree Chandrasekaran]

yes it is at the option of the Board

Jayashree

[R. Sathishkumar Sathishkumar]

thanks.

[kanika sharma]

Dear Vimal  ,

 It is confirmed for F.Y. 2014-15 I.E. 15% after 10% surcharge i.e. 16.995 %  and For F.Y. - 2015-16 , DDT - 15% with surcharge 12% and cess remains same 3% i.e. 17.304 %

[R. Sathishkumar Sathishkumar]

thank you Ms.Kanika.

[kanika sharma]

MY PLEASURE .

[CS Shainshad Aduvanni]

There is no mandatory requirement for transferring to General Reserve. It is optional to the Companies

--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.
To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

--

CS Shainshad Aduvanni
Company Secretary
Coimbatore

08144014439