corporate banks

This query is : Resolved 

01 August 2009 Is dividend frim cooperative bank exempt from tax? if yes then under which section

02 August 2009 Yes , Dividend received from cooperative bank is exempt under sec 10(34)

03 August 2009 but coperative banks under coperative society act and not under companies act and sewc 10(34) speaks about dividend exempt from companies.

05 August 2009 10(34) exempt. 10(34) states it relates to income by way of dividend referred to in section 115-O


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