Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Section 10(34) amendment and section 115bbda

Save Share

This query is : Resolved

drishti makhija (Querist)
Follow

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

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

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).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now