Dividend exempt U/s.10(34)

This query is : Resolved 

03 March 2010

Whether dividends declared by Nationalised banks are exempt U/s.10(34) of Income Tax Act, 1956.

Aditya Maheshwari (Expert)
04 March 2010

Dividend on which DDT paid is exempt u/s 10(34). The banks also pay DDT so they are also exempt

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