Sec 10(34) ammend

Saurabh Maheshwari (B.com,ACA) (5923 Points)

03 July 2012

Dear members, pls explain the implication of omission of expl to sec 10(34) as made by FA, 2011 wef june 1,11. Pls don't ignore if you have any idea.

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Tehsinkhan Pathan (CA CMA DISA(ICAI) B.COM) (3956 Points)
Replied 03 July 2012

Erstwhile, units/developer located in SEZ were not liable to CDT and also such income is exempt in the hands of shareholders..........

Now, such units are liable to CDT if they declare dividend on after 01/06/2011 i.e. now they are covered by sec - 115O.

Saurabh Maheshwari (B.com,ACA) (5923 Points)
Replied 03 July 2012

Thank you very much for your reply

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