TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Indian Companies Must Deduct 25% Income Tax on Dividends, Plus 5% Surcharge, u/s 194 of Income-tax Act 1961.</h1> Under section 194 of the Income-tax Act, 1961, Indian companies must deduct income tax at a 25% rate from dividend payments during the financial year 1987-88, as per the Finance Act, 1987. No deduction is required for resident individual shareholders of publicly interested companies if dividends do not exceed Rs. 2,500 and are paid by account payee cheque. An amendment to the Finance Act, 1987, introduced a 5% surcharge on the income tax, effective from December 16, 1987. Relevant parties are advised to contact the Income-tax Department for assistance.
TaxTMI 