10% tax on dividend above rs 10 lakhs

Prakash Narayanan (5 Points)

22 July 2017  

Hi,

Does the 10% tax on dividends above Rs 10 lakhs apply to dividends received from Mutual funds? I have seen opposing views on this in various articles.  If the 10% tax does not apply, where does the exempt dividend income have to be reported on ITR2?  The dividends row in Schedule EI mentions the limit of 10 Lakhs so I assume any amount above this cannot be included here.

Thanks.