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Dividend income

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(Querist)
05 March 2016 Will dividend income above 10 lacs be taxable income now onwards.....
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
05 March 2016 No. The amendment is proposed to be made effective from April 1, 2017.
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percy

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percy (Querist)
05 March 2016 Thanks sir..bt does it mean 10 lacs dividend frm a single company or total of annual dividend received fr all companies.....n if it is proposed from 2017 means dividend received frm April 16 onwards will be effective...thanks
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Ankur Singhal

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Ankur Singhal (Expert)
05 March 2016 Dear
Dividend more than Rs. 10 lac means total dividend recieved from all companies.
The taxation of dividend income in excess of Rs 10 lakh would be on gross basis.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
05 March 2016 1. Single company.

2. Dividend declared,distributed or paid on or after 1.4.2017 attracts 10% tax.

Ps:- Inference from clause 50 of Finance Bill, 2016.
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