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dividend from Indian company
is it exempt?
Replies (4)
Yes under section 10(34)
Dividend received from an Indian company which has suffered dividend distribution tax is exempt from tax under section 10(34). However, as per section 115BBDA, in the case of a "specified assessee"* dividend shall be chargeable to tax at the rate of 10% if aggregate amount if dividend received from a domestic company during the year exceeds Rs. 10,00,000.
agree with dhirajlal ji
dividend is exempted only up to 1000000 even if it is received from domestic company. dividends in excess of rs. 1000000 will be charged at 10%
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