18 June 2017
As per section 115BBDA DIVIDEND RECEIVED from domestic company in excess of 1000000/- would not be exempt u/s 10(34). Does it count doubles taxation as there is no such proviso u/s 115-O relating reduction in dividend distribution tax(to the extent of dividend amount on which shareholder has paid tax) to be paid by such company ??
If there is any such proviso pls refer
18 June 2017
dividend in aggregate exceeding Rs. 10 lakh shall be chargeable to tax in the case of an individual, Hindu undivided family (HUF) or a firm who is resident in India, at the rate of 10% (+SC+EC+SHEC).
The taxation of dividend income in aggregate exceding ten lakh rupees shall be on gross basis. However, this rule is not applicable in case of deemed dividend under section 2(22)(e) (w.e.f. 1 st April, 2016).
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