alleryStart learning →Deductible against dividend income under section 57(i)?
ADepreciation on the shares
BPersonal expenses of the holder
CBanker's commission for releasing it
DCost of buying the shares
Answer & Solution
Correct answer: C. Banker's commission for releasing it
Only a reasonable commission or remuneration paid to release the dividend is allowed against it, not capital cost or personal items.
Keep practising Income from Other Sources
Browse all Income from Other Sources questions for CA Inter, or explore more Taxation topics.
Related questions
A non-relative gifts exactly Rs 50,000 in a year. Taxable amount?Meena gets Rs 20,000 from a friend and Rs 28,000 from a colleague in a year. Taxable gift?In one year Rahul gets Rs 30,000 and Rs 25,000 gifts from two friends. Taxable gift?Property received free is taxable only if its stamp duty value exceeds?Which Union List entry lets the Centre tax non-agricultural income?Under which provision is agricultural income exempt from tax?A horse race under section 58(4) must be one on which?The bar on deductions in section 58(4) does not hit?