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Dividend income

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Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2013 Madam/Sir,
I want to know what is the definition of Indian company from which dividend received is exempt??? Whether co-operative, nationalized and schedule banks are included in the definition???

Anil Sankar V

Anil Sankar V (Expert)
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16 May 2013 THey are included in the definition. A company defined under the companies act 1956

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Guest (Expert)

17 May 2013 Income by way of dividends from domestic company u/s 115 0, is exempt u/s 10 (34).

Domestic company is define under 2(22A)

Any Indian company or
any other company who declare dividend in India

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