22 February 2008
sir, urban coperative bank has received dividend from U.T.I & it is shown as income in profit & loss account in their report. profit earned for the financial year 2006-07 includes dividend earned from U.T.I. While filing the return for 2006-07(F.Y)Can the dividend be deducted from the profit shown in the books of accounts & then tax computed on the rest amount?
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