Section A (1 Mark)Dividend received by a shareholder from an Indian company the whole of...

AAFM CWM_LEVEL_2 Question Answer

Section A (1 Mark)

Dividend received by a shareholder from an Indian company the whole of whose income is agricultural income shall be treated as:

agricultural income in the hands of shareholder and thus exempt

agricultural income and thus exempt but it will be subject to partial integration

exempt under section 10(34) but taxable in the hands of the company

income taxable under the head income from other sources

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