dividend received on MF
Siddharth Parmar (ipcc student) (61 Points)
30 July 2019
dividend rs. 30 lacs received on mutual fund , taxability . explain with explanation ..
Siddharth Parmar (ipcc student) (61 Points)
30 July 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 30 July 2019
1. As per sec 10(35), dividend received from MF will be exempt from payment of tax.
2. There is a wide confusion about whether DDT will be applicable to companies who are paying a dividend. It shall be applicable but the same is not covered u/s 115-O and sec 115BBD provision will not be applicable for them.
3. In your case dividend of Rs. 30 lakhs received from MF will be fully exempt from tax u/s 10(35).
Please correct me if the above solution has an alternative view.
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