Dividend Distribution Tax

Consider the following statements with reference to the Dividend Distribution Tax(DDT):

  1. The Dividend Distribution Tax is a tax levied on dividends that a company pays to its shareholders out of its profits.
  2. Under Section 115-O, the Income Tax Act, any domestic firm which is declaring or distributing dividend has to pay DDT at the rate of 15 percent on the gross amount of dividend.
  3. The tax has to be paid to the government within 24 days of the dividend declaration, distribution or payment whichever is earliest.

Which of the statement(s) given above is/are correct?

A
Only 1
B
1 and 2
C
1 and 3
D
Only 3