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Dividend income

Nitish Kumar (72 Points)

19 July 2018

after inclusion of section 115BBDA dividend income from domestic companies is exempt upto ₹10 lacs?

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CA Sunil Kumar (Chartered Accountant) (4514 Points)
Replied 19 July 2018

Yes, dividend received from domestic company is exempt u/s 10(34) upto Rs. 10 lacs.
Dividend shall be chargeable to tax at the rate of 10%, if the aggregate amount of dividend received from a domestic company during the year exceeds Rs 10,00,000 (Section 115BBDA).

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160327 Points)
Replied 19 July 2018

YES..... for 'dividend' received by a 'specified assessee' as .....

(a) "dividend" shall have the meaning assigned to it in clause (22) of section 2 but shall not include sub-clause (e) thereof;

(b) "specified assessee" means a person other than,—

(i) a domestic company; or

(ii) a fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or

(iii) a trust or institution registered under section 12A or section 12AA.]]