Dividend Distribution Tax

Dividend Distribution Tax News

Budget proposals on DDT, personal tax not to impact MF industry: Franklin Templeton Mutual Fund
Business

Budget proposals on DDT, personal tax not to impact MF industry: Franklin Templeton Mutual Fund

The proposed changes in Dividend Distribution Tax (DDT) and the new income tax system announced in the budget will not have any adverse impact on the mutual fund industry that showed resilience and maintained robust growth amid economic headwinds, a senior mutual fund official said

Budget 2020 did not end woes of aam aadmi; Nirmala Sitharaman opened a Pandora's Box with removal of tax exemptions instead
Business

Budget 2020 did not end woes of aam aadmi; Nirmala Sitharaman opened a Pandora's Box with removal of tax exemptions instead

While the introduction of a new personal tax regime with reduced rates made the aam aadmi happy, the Finance Minister opened a Pandora’s Box with the denial of various exemptions/deductions.

Mutual fund industry body seeks clarification from tax authorities on removal of DDT, TDS introduction
Business

Mutual fund industry body seeks clarification from tax authorities on removal of DDT, TDS introduction

Industry body AMFI has sought clarification from relevant tax authorities with regard to the government's plan to scrap dividend distribution tax (DDT) on mutual funds and introduction of tax deducted at source on the income distributed by such products, fund managers and officials have said

I-T Department clarifies 10% TDS applicable only on dividend paid by mutual funds, not on redemption of units
Business

I-T Department clarifies 10% TDS applicable only on dividend paid by mutual funds, not on redemption of units

The tax department on Tuesday clarified that the Budget proposal of 10 percent TDS will be applicable only on dividend payment by mutual funds and not on gain arising out of redemption of units

Budget 2020: A mixed bag for healthcare services, pharma sector; additional duties on medical devices to hike costs for consumers
Business

Budget 2020: A mixed bag for healthcare services, pharma sector; additional duties on medical devices to hike costs for consumers

While one of the key focus areas for this Budget 2020-21 on socio-welfare front is to widen the reach of affordable healthcare services, it also lays emphasis on government policy of ‘Make in India’.

Budget 2020: Has Finance Minister Nirmala Sitharaman set an unrealistic disinvestment target?
Business

Budget 2020: Has Finance Minister Nirmala Sitharaman set an unrealistic disinvestment target?

There are measures announced in the Budget which help to facilitate business, especially SMEs which is useful

Budget 2020: BJP recommends tax tweaks to attract foreign investors; says cost of financial transactions in country to be reduced
Business

Budget 2020: BJP recommends tax tweaks to attract foreign investors; says cost of financial transactions in country to be reduced

India charges 15 percent short-term capital gains tax if equity shares are sold within a year and at 10 percent if sold after a year.

Budget 2020:  Policy relaxations and incentives will whip up investors’ appetite, help govt fast-track to clock $5 trillion mark
Business

Budget 2020: Policy relaxations and incentives will whip up investors’ appetite, help govt fast-track to clock $5 trillion mark

The next proposal that may top FM’s Budget speech must be the disinvestment in strategic PSUs and outright privatization of loss-making PSUs.

Income tax slabs, change in capital gains tax in offing; to boost govt revenues by over Rs 55,000 cr: Report
Business

Income tax slabs, change in capital gains tax in offing; to boost govt revenues by over Rs 55,000 cr: Report

The report also suggests removing prosecution and reopening of assessment for those who declare and pay higher income tax for a past period of up to six years with interest and 50 percent penalty

Finance Ministry to look into applicability of 20% tax on share buybacks by listed companies
Business

Finance Ministry to look into applicability of 20% tax on share buybacks by listed companies

The Finance Ministry on Friday said that it will look into the applicability of 20 percent tax proposed in the 2019-20 Budget on the current share buybacks by listed companies

Budget 2019: Six ways new Finance Minister Nirmala Sitharaman can overhaul India's tricky direct tax system
Business

Budget 2019: Six ways new Finance Minister Nirmala Sitharaman can overhaul India's tricky direct tax system

With central excise and local sales tax accounting for roughly 50 percent of the petrol bunk prices, its migration to the GST regime brooks no delay

Industry, exporters should not depend on subsidies; work on improving competitiveness: Piyush Goyal
Business

Industry, exporters should not depend on subsidies; work on improving competitiveness: Piyush Goyal

On export credit, Goyal said it was discussed in detail and a meeting has been called Friday to further deliberate on the matter

Budget 2019-20: Assocham demands cut in effective corporate tax to 25%, inflation indexing of allowances
Business

Budget 2019-20: Assocham demands cut in effective corporate tax to 25%, inflation indexing of allowances

Industry chamber Assocham has demanded cut in effective corporate tax to 25 percent, doing away with dividend distribution tax (DDT) and indexing of allowances and deductions under personal Income Tax with inflation

Narendra Modi govt should spare a thought for salaried class; jump from 5% to 20% tax is grossest injustice to middle income group
Business

Narendra Modi govt should spare a thought for salaried class; jump from 5% to 20% tax is grossest injustice to middle income group

Apart from being unjust to the middle class, it is the steep rate of tax that tantalises people to split their income

Income Tax Department takes cognisance of Cognizant’s Rs 2,500 cr tax avoidance, but will not succeed
Business

Income Tax Department takes cognisance of Cognizant’s Rs 2,500 cr tax avoidance, but will not succeed

Tax avoidance is still a potent part of a tax payer’s armour. The only way to end tax avoidance is legislative interference.

Income Tax dept freezes Cognizant's bank accounts in Chennai, Mumbai after firm failed to pay Rs 2,500 cr DDT
Business

Income Tax dept freezes Cognizant's bank accounts in Chennai, Mumbai after firm failed to pay Rs 2,500 cr DDT

Cognizant's accounts were frozen a week back and it had approached the High Court against the tax department

Mutual funds investments not affected after reintroduction of LTCG tax on capital gains, says AMFI
Business

Mutual funds investments not affected after reintroduction of LTCG tax on capital gains, says AMFI

AMFI says all financial products should have same tax treatment and that mutual fund industry was trying to keep everything on level playing field

Rationalise DDT rate to 10% in upcoming Budget, industry body CII tells govt
Business

Rationalise DDT rate to 10% in upcoming Budget, industry body CII tells govt

Industry body CII has sought rationalisation of the dividend distribution tax rate to 10 percent in the upcoming Budget to encourage participation of different stakeholders in the country's financial markets

Budget 2016: To boost infra, encourage firms to convert to LLPs
Business

Budget 2016: To boost infra, encourage firms to convert to LLPs

Limited Liability Partnership is emerging as an attractive entity structure due to lesser administrative compliances while retaining the limited liability of company structure