Dividend from co-operative society

[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.

AI Summary

Debate on Taxability of Dividends from The Citizen Co-operative Society Ltd: Taxed at Company Level, Exempt for Recipients? A discussion forum addressed whether dividends received from The Citizen Co-operative Society Ltd. are taxable or exempt. One participant stated that the income is taxable in the hands of the assessee. However, others argued that since the tax on dividends is paid by the company before distribution, the recipient should not be taxed again. Multiple respondents supported the view that the dividend, having been taxed at the company level, should not be subject to additional taxation for the recipient.