Is dividend paid by co-operative bank to its shareholders is tax free ?
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Dividned from co-operative soc's and tax
Replies (3)
No. It is taxable in the hands of the Shareholders.
Thanks !
Co-operative bank not being a Domestic company is not required to pay Dividend distrubution tax. and since DDT is not paid it is taxable in the hand of the shareholder u/s 115 -O
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