Dividend from co-operative society, Income Tax

[Jitin B]

An assessee is receiving dividend from The Citizen Co-operative Society Ltd. Whether this income is taxable or exempt in the hands of the assessee. If exempt please refer relevant provision.

Posts / Replies

[ANITA BHADRA]

Taxable in the hands of assesee

[Ganeshan Kalyani]

In my view, tax on dividend is already paid by the company before distribution of the dividend. Hence recipient of dividend need not have to pay tax.

I welcome views of my collegue experts.

[DR.MARIAPPAN GOVINDARAJAN]

I endorse the views of Shri Ganeshan

[YAGAY and SUN]

We endorse the view of Mr. Kalyani.

[JeanBosco RUSEKAH.]

According to my view, dividends is already taxed before it is received by the beneficiary no need to be taxed again.