Government Abolishes Dividend Distribution Tax
In order to increase the attractiveness of the Indian Equity Market, to provide relief to large class of investors and to make India an attractive destination for investment, the Union Budget proposed to remove the Dividend Distribution Tax (DDT).
Key Changes
- The dividend distribution tax (DDT) has been abolished at both the company and mutual fund levels.
- It has been proposed to abolish DDT on dividends paid by the corporate and transfer the tax burden completely in the hands of the recipient.
- Instead, dividends will be taxable in the hands of investors and will be taxed at their slab rates. In addition, ....
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