Section 10(34) & Section 115BBDA & 115BBD

Sec.10 (34) exempt the dividend in hands of recipeint provided such dividend subject to sec.115 O.

sec.115BBDA denotes that dividend except dividend u/s 2(22)(e) received from domestic company or companies in aggregate excess of Rs.10 lakhs, then amount in excess of Rs.10 lakh shall be liable to tax 10% u/s 115BBDA.

sec.115BBD stipulates that any indian co. income include any income by way of dividend from a foreign company in which 26% or more nominal capital held by Indian company, then such indain co. shall be liable to pay tax on such dividend u/s 115BBD @ 15% + surcharge as applicable + HEC