advance corporation tax

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advance corporation tax

a sum payable to the revenue when a company paid a dividend to its shareholders, abolished for distributions made after April 1999.
References in periodicals archive ?
Banks are required to pay advance tax installments on monthly basis.
Further, the growth in Corporate Income Tax (CIT) advance tax is reported to be 10.9 percent, while that of Personal Income Tax (PIT) advance tax is 21.6 percent.
Telecom operators took the stance that the existing tax burden on consumers was phenomenal on the higher side as the FBR was charging 14 percent advance tax, Rs250 SIM issuance tax, FED/GST on voice ranging from 18.5 to 19.5 percent, FED/GST on data services 19.5 percent, IMEI tax Rs300 to Rs1,500 (it's on hold so far) and FED on banking services 13 to 16 percent.
" Leading private sector lender ICICI Bank paid ` 550 crore in advance tax this year against ` 425 crore last year.
According to the procedure given in the finance bill for adjustable advance tax on capital gains from sale of securities shall be chargeable as under, where holding period of a security is less than six month the rate of tax would be two percent of the capital gains derived during the quarter.
Criticising the imposition of advance tax, he requested the government to impose the tax on manufacturing instead.
The advance tax of Rs 300 per kg is applicable only on the tobacco that enAters the Green Leaf Threshing (GLT) plant.
Lastly, Advance Tax is not collected on arbitrary grounds.
The coming week seems to be promising for stock market in case of the stock brokers demands being fulfilled regarding advance tax, carry forward of capital gain losses to 3 years, flat rate of 15 percent CGT and others.
An amount of Rs 2.10 lakh crore has been collected as Advance Tax, which is 18.7 percent higher than the Advance Tax collections during the corresponding period of last year.
He contended that previously every marriage hall was required to pay advance tax at the rate of 5 per cent of the bill under 236-D of the Income Tax law.
ISLAMABAD -- Bookings of new cars in dealers name has emerged as a source of claiming billions of illegal advance tax refunds, aside from additional earnings from re-selling cars at a premium.