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Editorial Board on Accounts and Audit
  • Treatment of CDT in consolidation

    by Vivek on Monday, September 16, 2019 at 02:53 AM

    Dear Sir, S Ltd (Subsidiary Co.) is having Equity Share capital of Rs 15 Lacs as on 31.3.18. H Ltd is holding co. of S Ltd. H Ltd acquired 60% in S Ltd on 1.4.17. S Ltd paid dividend @20% out of pre-acquisition profits & paid Corporate dividend tax @ 17.304%. Query- Pls tell the treatment of Corporate dividend tax in paid in above case for the purpose of consolidation ?? 2) How to calculate CDT in above case ??

    Replied byEditorial Board Friday, September 20, 2019 at 07:14 PM

    In your case, the CDT has been paid by S Ltd. to the government on the total amount of declared dividend, including share of H Ltd. So, there is no case of intra-group transaction. In consolidated financial statements, such CDT shall be presented same as presented by S Ltd. in its separate financial statements.

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