πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      Which of the following incomes is fully exempt under

      Section 10 of the Income Tax Act?
      A Dividend Income from a Domestic Company Correct Answer Incorrect Answer
      B Income from House Property Correct Answer Incorrect Answer
      C Long-term Capital Gains on Equity Shares Correct Answer Incorrect Answer
      D Winning from Lottery Correct Answer Incorrect Answer

      Solution

      As per Section 10(34), dividend income from a domestic company is exempt in the hands of the shareholder, as the company pays Dividend Distribution Tax (DDT). However, the law is subject to change; always check the latest Finance Act.

      Practice Next
      ask-question