Dividend Distrubution Tax

[DHARMENDRA KASLE]

Dear Experts

We have made excess amount of DDT ( Dividend Distribution Tax ) in FY 2010-11, Can we adjust this excess amount in next DDT payment in FY 2011-12 i.e. upto 31.03.2012

[Vivek Harsh]

 

CDT is non adjustable.

[DHARMENDRA KASLE]

Thanks for reply

AI Summary

Dividend Distribution Tax non-adjustability: excess DDT payments cannot be carried forward to subsequent DDT liabilities. Excess payment of Dividend Distribution Tax in one fiscal year cannot be applied against subsequent tax liabilities; the advice given states that DDT is non adjustable, so an excess DDT payment in FY 2010-11 may not be adjusted against the next DDT payment in FY 2011-12.