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Commerce · Q438

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 438

Q438

Dividends declared by Unit Trust of India or by mutual fund is:

A.
Fully exempt in the hands of unit holders
Answer
B.
Fully taxable in the hands of unit holders
C.
Fully exempt in the hands of individual unit holders and fully taxable in the hands of institutional unit holders
D.
Included in the gross total income but a deduction is allowed under section 80L

Answer: Option A

Solution

Answer: Option A
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