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Dividend

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(Querist)
21 March 2012 If a person recieves dividend from indian company. Bank charges commission for collecting dividend. Is commission deductible?

Regards,
Dheeraj
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
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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Mihir Doshi

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Mihir Doshi (Expert)
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
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