{"id":35953,"date":"2022-03-09T18:22:32","date_gmt":"2022-03-09T12:52:32","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=35953"},"modified":"2024-06-01T16:15:53","modified_gmt":"2024-06-01T10:45:53","slug":"all-about-dividend-distribution-tax-under-income-tax-act-1961","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/all-about-dividend-distribution-tax-under-income-tax-act-1961\/","title":{"rendered":"All about Dividend Distribution Tax under Income Tax Act, 1961"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-35954 size-full\" title=\"All about Dividend Distribution Tax under Income Tax Act 1961\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/All-about-Dividend-Distribution-Tax-under-Income-Tax-Act-1961-1.png\" alt=\"All about Dividend Distribution Tax under Income Tax Act 1961\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/All-about-Dividend-Distribution-Tax-under-Income-Tax-Act-1961-1.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/All-about-Dividend-Distribution-Tax-under-Income-Tax-Act-1961-1-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/All-about-Dividend-Distribution-Tax-under-Income-Tax-Act-1961-1-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/All-about-Dividend-Distribution-Tax-under-Income-Tax-Act-1961-1-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/All-about-Dividend-Distribution-Tax-under-Income-Tax-Act-1961-1-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/All-about-Dividend-Distribution-Tax-under-Income-Tax-Act-1961-1-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">A dividend is a payment by a corporation to its shareholders from its profits. A dividend distribution tax was a levy imposed on a corporation&#8217;s dividend payment to its shareholders. The DDT was repealed by the <\/span><span style=\"font-weight: 400;\">Finance Act of 2020<\/span><span style=\"font-weight: 400;\">, reverting to the traditional taxation system, in which dividends are taxed in the hands of the investors. Previously, a domestic firm&#8217;s dividend income was exempt in the hands of shareholders under section 10(34) of the Income-tax Act, 1961, whereas the corporation was subject to dividend distribution tax (DDT) under section 115-O. Let&#8217;s discuss more details about the Dividend Distribution Tax further in this blog.<\/span><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\">\n<p style=\"text-align: justify;\"><b>Table of Content<\/b><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#What\"><span style=\"font-weight: 400;\">What do you mean by the term Dividend?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#is\"><span style=\"font-weight: 400;\">What is Dividend Distribution Tax?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Abolition\"><span style=\"font-weight: 400;\">Abolition of DDT for Indian Companies, as amended by Finance Act 2020<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#When\"><span style=\"font-weight: 400;\">When do you have to pay the Dividend Distribution Tax?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Who\"><span style=\"font-weight: 400;\">Who must pay the Dividend Distribution Tax (DDT) and at what rate?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Dividend\"><span style=\"font-weight: 400;\">Dividend Distribution Tax-Related provisions\u00a0<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#should\"><span style=\"font-weight: 400;\">Who should participate in the Dividend Scheme?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Some\"><span style=\"font-weight: 400;\">Some more important points to be noted about DDT<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"text-align: justify;\"><b>What do you mean by the term Dividend?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">A dividend is a payment by a corporation to its stockholders. When a company makes a profit or has a surplus, it can distribute a portion of those earnings to <\/span><span style=\"font-weight: 400;\">shareholders<\/span><span style=\"font-weight: 400;\"> as a dividend. The dividend received by a shareholder is considered as income by the shareholder and may be taxed.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In other words, a dividend is a payment by a firm to its shareholders, either in cash or in kind. Dividends can pay in a variety of ways, including cash, stocks, or other assets. The <\/span><span style=\"font-weight: 400;\">Board of Directors<\/span><span style=\"font-weight: 400;\"> decides on a company&#8217;s dividend, which must approve by the shareholders. Also, a firm is not necessary to pay dividends, though. A dividend is a portion of a company&#8217;s profit that it distributes to its shareholders.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>What is Dividend Distribution Tax?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Dividend Distribution Tax (DDT) is a tax levied on dividends paid out of a company&#8217;s profits to its shareholders. <\/span><span style=\"font-weight: 400;\">The Finance Act of 1997<\/span><span style=\"font-weight: 400;\"> introduced the Dividend Distribution Tax.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Dividend Distribution Tax is deducted at the time of distribution and is taxable at the source. Section 115-O governs the provisions relating to DDT. DDT is charged at the hands of the enterprise and the shareholder, according to the law. An exception is when a shareholder receives a dividend of more than Rs 10lakh and must pay an extra tax.\u00a0<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Abolition of DDT for Indian Companies, as amended by Finance Act 2020<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">If a shareholder receives a dividend from a <\/span><span style=\"font-weight: 400;\">domestic corporation<\/span><span style=\"font-weight: 400;\">, the dividend is tax-free in the shareholder&#8217;s hands until Assessment Year 2020-21. Companies had to pay a dividend distribution tax in this case. The Finance Act 2020, on the other hand, has made DDT unnecessary for businesses. Investors are now <\/span><span style=\"font-weight: 400;\">taxed on dividends<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Only if the dividend is distributed on or after January 1, 2020, is the income taxed in the hands of the investors. In this situation, the entire amount will be taxable in the hands of the investors, who will be responsible for paying dividend taxes. DDT will not charge to the businesses.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>When do you have to pay the Dividend Distribution Tax?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The tax is due 14 days towards the government after the dividend declaration, distribution, or payment, whichever comes first.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-35960\" src=\"https:\/\/www.cagmc.com\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1.jpg\" alt=\"When do you have to pay the Dividend Distribution Tax?\" width=\"2500\" height=\"700\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1.jpg 2500w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-300x84.jpg 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-1024x287.jpg 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-1536x430.jpg 1536w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-2048x573.jpg 2048w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-1260x353.jpg 1260w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-615x172.jpg 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-400x112.jpg 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-292x82.jpg 292w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/imgpsh_fullsize_anim-1-1320x370.jpg 1320w\" sizes=\"(max-width: 2500px) 100vw, 2500px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In the case of non-payment within the specified time frame, interest accrues at a rate of 1% per month (or portion thereof) until the full amount is paid. Separately from the company&#8217;s income tax liability, the tax is paid.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is no deduction or credit available to the company for paying the DDT under the income tax law.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In the same way, while calculating income through dividends, a <\/span><span style=\"font-weight: 400;\">taxpayer<\/span><span style=\"font-weight: 400;\"> does not claim a deduction for any expenditure, allowance, or <\/span><a href=\"https:\/\/www.cagmc.com\/set-off-carry-forward-of-losses-under-income-tax-act-1961\/\"><span style=\"font-weight: 400;\">set-off of loss<\/span><\/a><span style=\"font-weight: 400;\"> under the Act.<\/span><\/li>\n<\/ul>\n<h2><b>Who must pay the Dividend Distribution Tax (DDT) and at what rate?<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Section 115-O of the Internal Revenue Code requires a domestic firm to pay a 15% dividend distribution tax on the gross amount of the payout.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tax is payable at 30% on considered dividends under section 2(22) (e). Here in the hands of the shareholder, the dividend is tax-free.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">On the amount of dividends, the effective rate of dividend distribution tax is 17.65%. The applicable tax rate is 15%, according to section 115-O.<\/span><\/li>\n<\/ul>\n<h2><b>Dividend Distribution Tax &#8211; Related provisions<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">On or after April 1, 2020, firms are not obligated to pay DDT on any dividends distributed. A few adjustments to be aware of are as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The full payout is now taxable in the hands of shareholders.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If the dividend amount exceeds Rs. 5,000, the corporation deducts tax at a rate of 10% under section 194.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For <\/span><span style=\"font-weight: 400;\">AY 2021-22<\/span><span style=\"font-weight: 400;\">, the exception under section 10(34) is repeal.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Section 115BBD&#8217;s provisions will not apply.<\/span><\/li>\n<\/ul>\n<h2><b>Some more important points to be noted about DDT<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">DDT is a separate tax that must pay in addition to a company&#8217;s income tax liability. The corporation is not entitling for a reduction or credit for the DDT it has paid.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Section 115BBD of the <\/span><a href=\"https:\/\/en.wikipedia.org\/wiki\/The_Income-tax_Act,_1961\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Income Tax Act of 1961<\/span><\/a><span style=\"font-weight: 400;\"> provides for a 15% tax rate on dividends received by an Indian company from its foreign affiliate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If a dividend is payable to anyone for or in place of the New Pension System <a href=\"https:\/\/www.cagmc.com\/trust-registration\/\">Trust<\/a>, no DDT is due.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Furthermore, no deduction for any expenditure, allowance, or set-off of loss shall allow to the taxpayer in computing dividend income under the Act.<\/span><\/li>\n<\/ul>\n<h2><b>Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">In India, the elimination of DDT and reinstatement of the traditional dividend tax system is a positive step that aligns with global tax regimes. It will also improve tax collection and decrease <\/span><span style=\"font-weight: 400;\">tax credit<\/span><span style=\"font-weight: 400;\"> leakage. This also emphasizes the shift from a regressive to a progressive tax system. It will improve the market&#8217;s environment, making it more welcoming to international investors.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A dividend is a payment by a corporation to its shareholders from its profits. A dividend distribution tax was a [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":35954,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[69],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>All about Dividend Distribution Tax under Income Tax Act 1961<\/title>\n<meta name=\"description\" content=\"All about Dividend Distribution Tax under Income Tax Act 1961. 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