Tax on share of profit received from the closely held company

Vidhi Shah (3 Points)

08 December 2022  
Eg. A Pvt. Ltd. earned a profit of Rs. 10 lacs
paid income tax on 10 Lacs @ 30% = 3 lacs

Balance profit after tax= 7 lacs transferred to it's share holders.

Will such share received from company be taxable in the hands of shareholders?

Doubt: Income of 10 lacs already taxed once. Will it be taxed again?