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 I have shares in tea manufacturing compan...

 I have shares in tea manufacturing company and it pays tax on 40% of its income as balance ...

 I have shares in tea manufacturing company and it pays tax on 40% of its income as balance is treated as agriculture income. When I receive dividend from the company, can I claim exemption on 60% of the dividend received as agriculture income?


0
Jeeba Jun. 21, 2018

No, you can not do so.

Income derived by the assessee from the agriculture activities is treated as agriculture income and hence exempted from the tax. You shall get dividend from company for the investment made in the company not for carrying agriculture operation.

So dividend income that you earn from company shall not be treated as agriculture income.

 I have shares in tea manufacturing company and it pays tax on 40% of its income as balance is treated as agriculture income. When I receive dividend from the company, can I claim exemption on 60% of the dividend received as agriculture income?


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