Dividend 10(34)

       The exemption u/s 10(34) was inserted recently.There hasnt been any consequential amendment in section 9.Dividends from domestic companies was actually taxable a few years ago.
          dividend from a domestic company whethere recd in or out of India will be exempt as per sec 10(34).Also refer sec 115-O

i agree with the view of anuj

Exemption u/s 10(34) is applicable only for those dividend on which dividend tax is paid. other dividend are still be taxable.

hello

NO DOUBT THAT IT SHALL BE INCLUDED IN THE TOTAL INCOME DUE TO THE REASON OF THE APPLICABLITY OF SEC5, BUT IF WE APPLY THE RULE OF HARMONIOUS CONSTRCUTION, WE CAN EASILY MAKE AN CONCLUSION THAT FIRSTLY THAT INCOME SHALL BE INCLUDED FIRST IN THE TOTAL INCOME AND THEN EXEMPTION U/S10(34) OF CLAIMED AT THAT STAGE ITSELF.


WE HAVE TO BRING INTO EFFECT EACH AND EVERY SECTION OF THE LAW, WE CANNOT READ THE SINGLE SECTION IN ISOLATION IRRESPECTIVE OF THE FACT THAT THERE IS CONTRADICTION.

hello

NO DOUBT THAT IT SHALL BE INCLUDED IN THE TOTAL INCOME DUE TO THE REASON OF THE APPLICABLITY OF SEC5, BUT IF WE APPLY THE RULE OF HARMONIOUS CONSTRCUTION, WE CAN EASILY MAKE AN CONCLUSION THAT FIRSTLY THAT INCOME SHALL BE INCLUDED FIRST IN THE TOTAL INCOME AND THEN EXEMPTION U/S10(34) OF CLAIMED AT THAT STAGE ITSELF.


WE HAVE TO BRING INTO EFFECT EACH AND EVERY SECTION OF THE LAW, WE CANNOT READ THE SINGLE SECTION IN ISOLATION IRRESPECTIVE OF THE FACT THAT THERE IS CONTRADICTION.

hi frends,

i know its too late.... but then let me too join this topic....

while deciding on income, first check whether the so called income is oncome under the IT ACT 1961. and then decide under wat head it should come...

here in this case is dividened income??? yes yes very much.... tat is u/s2(24).... dividened is income and should be included for income calculation.

next step is to check whether there are any exemptions available.... here is dividend exempted?? yes very much u/s 10(34). so, first include it as income and then claim exemption.....

as simple as that.... because this is law, we cannot apply ur logic.... its just a thumb-rule and follow it.......

regards rajesh

hi friends

while deciding on income, first check whether the so called income is 'income under the IT ACT 1961'. and then decide under wat head it should come...

here in this case is dividened income??? yes very much.... tat is u/s2(24).... dividened is income and should be included for income tax calculation.

next step is to check whether there are any exemptions available.... here is dividend exempted?? yes very much u/s 10(34). so, first include it as income and then claim exemption.....

as simple as that.... because this is law, we cannot apply ur logic.... its just a thumb-rule and follow it.......

regards
rajesh itty eapen

dividend from bank of india is exempt under U/S 10(34) OR NOT

Hi all

Whether dividend received by Indian company  was taxable or not for the FY2002-03?

Hi,

Whether dividend received from Co.-Op. banks in india is exempt for individual and partnership firm under U/S 10(34) OR NOT ??

Please advise me...Thanks!!