Dividend
This query is : Resolved
21 March 2012
If a person recieves dividend from indian company. Bank charges commission for collecting dividend. Is commission deductible?
Regards,
Dheeraj
Regards,
Dheeraj
21 March 2012
Yes,deductible. Sec. 57 Any sum paid to the banker to realize the dividend is deductible.
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Note that normally dividend from Indian companies is exempt from tax u/s 10(34).
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Note that normally dividend from Indian companies is exempt from tax u/s 10(34).
21 March 2012
In my opinion, this Bank charges are not deductible because income offered for tax is exempt i.e. dividend.
Thanks
Mihir Doshi
Thanks
Mihir Doshi
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