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Re: tax

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01 July 2012 are dividends from indian companies and mutual funds taxed for the assessment year 2011-12, when filing income tax returns
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
01 July 2012 The dividend declared by the domestic company shall be exempt from tax in the hands of shareholders u/s 10(34) of the Income Tax Act, 1961. But this provision is not applicable to foreign company and deemed dividend. Dividend declared by foreign company and any deemed dividend is chargeable to tax and shareholders are liable to pay tax on such dividend. Dividend is chargeable to tax in the year such amount is paid to the shareholders.
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