SEO Sai Gr. Hosp.
210688 Points
Joined July 2016
Section 10(34)/10(35) is about exempt on income by way of dividend or any amount received from a securitisation trust.
So following incomes will not be chargeable to tax:
• Any income by way of dividends (on which domestic companies have paid dividend distribution tax u/s 115-O)
• Any income in respect of units of a mutual fund;
• Income received by a unit holder of UTI;
• Income in respect of units of a specified company.
• Income on account of buyback of shares by a company
• Income received from a securitisation trust
So, dividend received by unit holders of MF is exempt u/s. 10(35).