dividend tax and dividend

yes, such dividend is exempted in the hands of reciever.., and tax on such distribution of profits is paid by society..... 

i think it is ryt

Dear sir,

Society is a corporate body registered under respective state laws or under multi state co-operatives act. The word "limited" signifies that the society is registered with limited liability. Section 115O covers only domestic companies & not 'co-operative societies'. Hence society need not pay Corporate Dividend tax for the same. Dividend income shall not be taxfree in the hands of members. But, principle of mutuality may apply.