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dividend income

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Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2011 1.Are dividends earned from indian company taxable.
2. Is NSS closure income taxable and what is the tax treatment
3. Is redemption from FT prima plus taxable and what is the tax treatment.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 July 2011 1.If the dividend is covered u/s 115 O of the IT Act,1961 it is exempted in the hands of the share holder u/s 10 (34) of the said act.
2. If the closed account relates to the scheme NSS 1987, full amount is taxable. If it is NSS 1992 exemption is available for the principal portion whereas interest is fully taxable.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2011 Sir,
The Dividends earned are from,
i)idbi nifty
ii)icici bank)
iii)mrpl share
iv)religere monthly
v)idfc monthly
vi)morganstanley
vii) ifci share
viii)ruchisoya share

and NSS was purchased in the year 87 for Rs. 10000

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