Share market

Companies had to pay dividend distribution tax on the amount it distributes as Dividend. And the dividend was exempt in the hands of receiver (if individual) upto Rs. 10,00,000 and thereafter it is taxed at 10%. Now in this union budget, the concept of dividend distribution tax is removed and companies do not have to pay any DDT. Now the exemption of Rs.10,00,000 in the hands of receiver is not available. The entire dividend received is taxed as any other Income.