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Tax on Dividend

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25 August 2009 Whether dividend on Bank shares is taxable or exempt?

25 August 2009 yes

25 August 2009 dear kalpna, any dividends from bank share or other company share except foreign company exempt u/s 10(34) of IT act.
However company pay Dividend distribution Tax on dividend U/s 115 O . and in the hand of receiver dividend is exempt U/S 10(34)






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