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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Tax Rule: 10% Tax on Dividends Over 10 Lakh for Individuals, HUFs, and Firms Under Section 115BBDA</h1> Section 115BBDA, introduced by the Finance Act, 2016, effective from April 1, 2017, imposes a tax on certain dividends received by individuals, Hindu undivided families, or firms resident in India. If the total dividend income from domestic companies exceeds ten lakh rupees, a ten percent tax is levied on the excess amount. No deductions for expenses, allowances, or loss offsets are permitted when calculating this dividend income. The term 'dividends' aligns with the definition in section 2(22) of the Income-tax Act, excluding sub-clause (e).
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