Dear Sir/Madam
I have earned Rs.12 lakh dividend income from mutual fund in Fy 2017-2018. Please tell me whether I have to pay IT in excess of 10 lakh i,e of 2 lakh.
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Income Tax on MF Dividend
Replies (2)
No sir. Section 115bbda whereby Income in excess of 10 lakh becomes taxable applies only to dividend received from Indian companies.
In your case income being received from mutual fund entire income is exempt u/s 10(35).
In your case income being received from mutual fund entire income is exempt u/s 10(35).
Agree. MF dividend is not taxable u/s. 115BBDA
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