Clarification - Assessment year

[Guest]

Dividend Distribution Tax Challan- A/Year? Dear Sir, Dividend provision made in balance sheet for the year ending 31-03-2008, AGM held on 30-09-08, Now which assessment year should be shown in Challan no. 280, will it be A/Y 2008-09 as the dividend pertained to A/Y 2008-09 or will it be A/Y 2009-10. Best Regads

[DEV KUMAR KOTHARI]

Dividend is distributed during FY 2008-09, liability to desposit DDTax arise in FY 2008-09, therefore, A.Y. should be mentioned as 2009-10.

[Guest]

What if I have mentioned A/Y wrongly as A/Y 2008-09. Will it be treated as technical lapse? How to correct the situation. Best Regards

[DEV KUMAR KOTHARI]

Just write to the A.O. giving details of dividend declared, due date, date and details of payment and request him to take care of tax paid and its accounting at his end.

AI Summary

Use Assessment Year 2009-10 for DDT in Challan No. 280; Correct Errors by Informing Assessing Officer A query was raised regarding the appropriate assessment year to be mentioned in Challan No. 280 for Dividend Distribution Tax (DDT) related to a dividend provision made in the balance sheet for the year ending 31-03-2008, with the AGM held on 30-09-2008. The advice provided was to use the assessment year 2009-10, as the dividend distribution occurred in the fiscal year 2008-09. If an incorrect assessment year, such as 2008-09, was mentioned, it was suggested to inform the Assessing Officer with relevant details to correct the record.