Dividends deluge to keep taxman at bay


In the three days since the Union Budget, at least 70 companies have called board meetings to declare interim dividends — in a bid to get the money to the shareholders before the tax on promoters’ dividends kicks in on April 1.

The Budget, presented on Monday, had proposed a 10 per cent tax on the dividends for those promoters with annual dividend income of Rs 10 lakh or more.

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