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Dividend income

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(Querist)
09 July 2012 Dividend received from kalupur co -operative bank in the hands of members is exempt or not?
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
09 July 2012 Dividend income is exempted only if Dividend distribution tax is paid by the payer.

DDT is applicable only in case of company assessees. As such the dividend received form co-op bank is taxable.

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