Mr. Ganapathy a resident individual received 12 lakhs during the financial year 2019-2020 by way of dividend from domestic company. The company have paid dividend distribution tax under Section 115-0 on the dividend declared. The applicable rate of tax Liability on such dividend income in excess of Rs. 10,00,000 would be:
A. 10.4%
B. 31.2%
C. Nil
D. 15.45%
Answer:A
Mr. Ganapathy a resident individual received 12 lakhs during the financial year 2019-2020 by way of dividend from domestic company. The company have paid dividend distribution tax under Section 115-0 on the dividend declared. The applicable rate of tax Liability on such dividend income in excess of Rs. 10,00,000 would be:
A. 10.4% B. 31.2% C. Nil D. 15.45%