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. Show full article