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Dividend exempt U/s.10(34) (Income Tax)

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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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