Dividend recieved

This query is : Resolved

VIGNESHWARI JAISANKAR (Querist)
Follow

09 August 2018 One of my friend has received Rs.12,00,000/- as dividend from Mutual fund and another Rs.12,00,000/- dividend from Equity shares. What is the maximum deduction we can claim u/s 10 of the I.T.Act. Kindly clarify dividend received from Mutual funds are fully exempted?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

09 August 2018 10% tax payable on dividend exceeding 10 lacs on shares. 10% tax payable on dividend from mutual fund for which TDS will be deducted.

Message likes : 1 times

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

09 August 2018 Mutual fund dividend - Rs. 12,00,000 - exempted u/s 10 (35)
Dividend from companies - Rs. 12,00,000 - exempted u/s 10 (34) is Rs. 10,00,000
Total exemption u/s 10 (34) & (35) - Rs. 22,00,000.

Message likes : 2 times

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

09 August 2018 Agreed with the above reply.

Message likes : 2 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok