For A.Yrs. 2018-19 and 2019-20, dividend exceeding Rs. 10 lakhs is taxable as income from other sources u/s. 56(2)(i) and dividend below Rs. 10 lakhs would continue to be exempt u/s. 10(34) provided the company has paid dividend distribution tax. From A.Y. 2021-22 onwards, dividend is taxable as income from other sources u/s. 56(2)(i) in the hands of the recepient.
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