Markets
BSE See NSE See 30,365.25
-205.72 (-0.67%)
collapse Related Readings collapse

Budget impact: Dividend income of private trusts under tax ambit

By DSIJ Team | 2/3/2017 3:55 PM Friday

Promoters who had set up private trusts from the perspective of succession planning will find the Union Budget 2017 unappetising. Last year, the Budget introduced a tax levy of 10 per cent for individuals and firms that earned dividend income of more than Rs 10 lakh a year. 

Now from 2017 onwards, private trusts come within its ambit. Domestic companies, charitable trusts and similar non-profit entities continue to remain exempted from this levy. According to reports, the revised provisions have been introduced to provide parity between rich shareholders who directly held shares and those that held it via private trusts.

Corporate giants like Azim Premzi and Mukesh Ambani who posses private trusts will also attract tax levy. For instance, Azim Premji, in his personal capacity, held 9.34 crore shares (or 3.78 per cent) of the total shareholding. The company declared a dividend of Rs 6 per share and Premji earned a gross dividend of Rs 56.04 crore which would attract 10 per cent levy. Now, even dividends earned by Azim Premji Trust (if it is not a charitable trust) will attract such a levy. 

Hence, the provisons are being revised to provide parity between shareholders who hold it via private trusts as well as shareholders who hold it directly.

 

Find More Articles on: Markets, DSIJ Mindshare, Research, Budget 2017

news letter

More for the early bird.

Get the post-market reports and breakfast news right in your inbox. See latest »

DSIJ
Mindshare

Q4FY17 Results : Jubilant Life Sciences

 Q4FY17 Results : Jubilant Life Sciences

The company reported PAT of Rs 149.03 crore, which represents a sequential QoQ increase of 28.35 per cent and a YoY increase of 1272.28 per cent.

Q4FY17 result : Tata Motors

Q4FY17 result : Tata Motors

The company's total sales for Q4FY17 came in at Rs 77217 crore, which represents a 20.78 per cent sequential increase and 2.88 per cent YoY decline.

Nifty closed down by 52 points, Adani witnesses steep fall

Nifty closed down by 52 points, Adani witnesses steep fall

Indian capital markets closed flat on the bourses on Tuesday. Nifty closed at 9386 down by 52 points, whereas Sensex closed lower by 205 points at 30,365 on Tuesday, May 23, 2017. 

NCC Q4FY17: net profit dips 26 per cent

NCC Q4FY17: net profit dips 26 per cent

During FY17, the company's revenue decreased 5.2 per cent YoY to Rs 7892 crore and its EBITDA for the period dropped 7.1 per cent YoY to Rs. 685 crore.

Aarti Drugs : Q4FY17 Result

Aarti Drugs : Q4FY17 Result

The company reported PAT of Rs 20.7 crore which represents a sequential QoQ increase of 16.1 per cent and a YoY increase of 11.5 per cent.

Overnight Digest- Stocks to look out for on May 24

Overnight Digest- Stocks to look out for on May 24

The stocks which are expected to witness significant movement on May 24 are Adani  Entreprises/Aptech/Bharat Forge, PPAP Automotive Limited,Coral India Finance & Housing Limited,Radico Khaitan Limited and Cerebra Integrated Technologies Limited.

Q4FY17 result : Sequent Scientific

Q4FY17 result : Sequent Scientific

The company reported PAT of Rs 10.49 crore, as against the net loss of Rs 10.57 crore in the last quarter of same year.

Q4FY17: Ingersoll Rand India Ltd

Q4FY17: Ingersoll  Rand India Ltd

The company's total sales for Q4FY17 came in at Rs 142.38 crore, which represents a 14.34 per cent sequential decline and 1.03 per cent YoY increase.

Century Plyboards : Q4FY17 Result

Century Plyboards : Q4FY17 Result

The company reported PAT of Rs 55.9 crore, which represents a sequential QoQ increase of 49.9 per cent and a YoY increase of 34.4 per cent.

India may invest in IPO of Saudi Aramco

India may invest in IPO of Saudi Aramco

India on Monday said that it could invest in Saudi Aramco when the company floats its shares next year. The purchase of a stake in Aramco would enable Indian state refiners to set up a refining venture with the Saudi giant and strengthen ties with the world’s largest oil producer.

Market
CHIT CHAT

What is your view on markets today?

200  Characters Remaining.
Please LOGIN  to post your comments or Click here to go back.
Rahul Kankhare May 23 08:48PM
Order not executing ....this is 2 nd day
Mages waran M May 23 05:27PM
just buy and sell?
Mages waran M May 23 05:27PM
how to do the intra day here
Ronak Maloo May 23 04:04PM
You can buy 1st and sell same day or you can sell first (sort) and buy on same day later
Ronak Maloo May 23 04:03PM
Same day buy and sell