XXX, A domestic corporation declared P1,000,000 dividends in 2021. 40% of its outstanding shares is held by its only domestic corporate investor. Compute the amount of dividends tax to be withheld by XXX assuming 50% of the other investors are resident citizens and 10% are non-resident citizens.

A. 100,000

B. 60,000

C. 40,000

D. Zero

Answer rating: 100% (QA)

According to the rule of taxable income tax will be In India a company which has declared distribute... View the full answer