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As per Finance Act 2014, we wish to inform you that there is a change in the methodology of calculating Dividend Distribution Tax (DDT) for non-equity oriented mutual fund schemes w.e.f. October 1, 2014.
The change is in the DDT calculation methodology; which we have tried to simplify for better understanding.
· DDT rate was being applied on the net dividend payout
· Effective October 1, 2014, as per Finance Act 2014, only DDT rate should be grossed up for deriving the DDT amount. The surcharge and education cess would then be derived from the DDT amount
· Due to the change in DDT calculation methodology , there would be a slight fall in the dividend payout from non-equity oriented mutual fund schemes, on account of higher DDT amount being deducted as shown in the below illustration
Illustration for DDT calculation
| DDT for Individuals/HUF @ 25% | DDT for investors other than Individual/HUF @ 30% | ||
Particulars | Upto Sept 30, 2014 | From Oct 1, 2014 | Upto Sept 30, 2014 | From Oct 1, 2014 |
Net Dividend Paid | 100.000 | 100.000 | 100.000 | 100.000 |
Dividend Distribution Tax | 25.000 | 33.333 | 30.000 | 42.857 |
Dividend Distribution Surcharge @ 10 % | 2.500 | 3.333 | 3.000 | 4.286 |
Dividend Distribution Edu Cess @ 3% | 0.825 | 1.100 | 0.990 | 1.414 |
Total Dividend Distribution Tax to be paid | 28.325 | 37.767 | 33.990 | 48.557 |
Note: The figures given in the above table are for illustration and general information purpose only. Pursuant to payment of dividend, the NAV of the scheme would fall to the extent of payout and statutory levy.
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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