PSU NEWS
Government may mop up at least Rs 2,000 crore through proposed dividend tax
MUMBAI: If the proposal to tax dividends above Rs 1 crore at 10% is accepted by the legislature, India's large promoter groups will contribute significant sums to the exchequer. Tata Group will have to shell out over Rs 424 crore, the maximum among other business houses. Vendanta Group will be next in line with a contrinution of Rs 122 crore, whereas Mukesh Ambani led Reliance Group will pay Rs 119 crore considering the dividends they collected in the latest ended financial year.
The total dividend tax collection through this route may exceed Rs 2,000 crore considering the publicly listed companies of over 240 promoter groups who earned more than Rs 1 crore in the latest ended fiscal. ECONOMIC TIMES .
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