Brokers demand cut in dividend distribution tax in upcoming Budget

The broking community has requested the central government for a cut in the dividend distribution tax (DDT) in the upcoming Union Budget. In a submission to the Union government, the brokers' associations said the present form of adversarial taxation on the dividend of around 20 per cent results in triple taxation of corporate earnings.
 
The submission said the tax on dividend should be in the form of equalisation of balance difference between corporate and personal tax. The brokers' associations recommended that DDT should be withdrawn and the tax should be levied at 10 per cent at the hands of