Among other things, the Bill proposes to levy a 10% tax on dividend income exceeding Rs.1 crore. The minimum alternate tax (MAT) may be levied on book profit and not on gross assets, sources said. Further, the securities transaction tax (STT) is likely to be retained, as against the recommendation of the standing committee on finance that the levy be abolished.
Surprise Surprise, DTC to be introduced this winter session – Initial provisions disappointing
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
Among other things, the Bill proposes to levy a 10% tax on dividend income exceeding Rs.1 crore. The minimum alternate tax (MAT) may be levied on book profit and not on gross assets, sources said. Further, the securities transaction tax (STT) is likely to be retained, as against the recommendation of the standing committee on finance that the levy be abolished.