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Rashmin Sanghvi & Associates

Chartered Accountants

220, 2nd Floor, Arun Chambers,
Tardeo Road,
Mumbai - 400 034,
Maharashtra, India.

Tel. Nos.: (+91 22) 2351 1878, 2352 5694.

Fax : (+91 22) 2351 5275.

Email : [email protected]

Home Articles Taxation         Share :

Budget 2017Chapter H

37. Taxation of dividend [S. 115BBDA]:

37.1 Dividend paid by companies is normally exempt from taxation. Finance Act 2016 provided that dividend earned above Rs. 10,00,000 by a resident individual, HUF or a firm is taxable at the rate of 10%. Non-residents and other persons were exempt from this tax.

37.2 Finance Bill 2017 proposes to extend the applicability of this section to all types of resident assessees. However following persons continue to be exempt completely:

i) a domestic company; or

ii) a fund, an institution, a trust, which undertakes activities like education, medical, hospital etc. [S. 10(23C)]; or

iii) a charitable trust or institution registered with tax department [S. 12AA]