Clubbing of income

See, there are 2 things :

If you have any agreement or any other legal document signed with that person to whom you have transferred this dividend income , then the question of clubbing will come under view .

And if no such thing has been done , then it will be taxable in the hands of Mr.Y as gift .

Okay thanks alot😊

sir dividend income is exempt from tax..
and here if you take example of other income suppose interest income.. then it will be taxable in hands of both X and Y..
X who is earning and Y as he received gift..
Clubbing would apply only for transfer of income from source i. e. diverting the income from the very source... remmitance after receipt wouldn't tantamount to applicability of provisions of clubbing

Yes i realized that later but could not edit my question😅.
Thank you for the clarification☺