exemption
This query is : Resolved
29 October 2010
is dividend recieved from state bank of india exempt or taxable..??
got a confusion because some places it is said that it is registered under the banking act so it is not an indian company and is not allowed as a deduction u/s 10(34).
plz solve the query.
got a confusion because some places it is said that it is registered under the banking act so it is not an indian company and is not allowed as a deduction u/s 10(34).
plz solve the query.
29 October 2010
Sec 115O regultaes dividend tax.
As per 115O . it is applicable on domestoc company. sec 2(22A) say domestic company means an indian company, or any other company which in respect of its income liable to tax under this act, has made the prescribed arrangements for the declaration and payment, within india, of the dividends payable out of such income.
SBI is covered under domestic company , so dividend tax applicable on SBI also.
As per 115O . it is applicable on domestoc company. sec 2(22A) say domestic company means an indian company, or any other company which in respect of its income liable to tax under this act, has made the prescribed arrangements for the declaration and payment, within india, of the dividends payable out of such income.
SBI is covered under domestic company , so dividend tax applicable on SBI also.
29 October 2010
DDT payable on dividend distributed by SBI and hence exempt u/s 10(34).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Copyright software
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Transporter Declaration form
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
