Dividend income more than 10 lakhs taxable ?
Answer :
No, Dividend is Tax free as it is
received against Mutual Fund.
However,if aggregate dividend
received by an individual/ HUF from companies exceeds Rs. 10,00,000, it is
liable to pay tax at the rate of 10% on dividend income received in excess of
Rs. 10 lakh.
Section 115BBDA applies only on
dividend income received from domestic companies under Section 10(34) and
excludes dividend income received from mutual funds under Section 10(35).
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