Dividend exempt U/s.10(34)

This query is : Resolved 
 

(Querist) 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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