Tax on Dividend
This query is : Resolved
Kalpana Rathi
(Querist)
25 August 2009
Whether dividend on Bank shares is taxable or exempt?
vijay singhal
(Expert)
25 August 2009
yes
C.A.Harish Singh
(Expert)
25 August 2009
dear kalpna, any dividends from bank share or other company share except foreign company exempt u/s 10(34) of IT act.
However company pay Dividend distribution Tax on dividend U/s 115 O . and in the hand of receiver dividend is exempt U/S 10(34)
However company pay Dividend distribution Tax on dividend U/s 115 O . and in the hand of receiver dividend is exempt U/S 10(34)
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