Tax on high-value dividends: specified residents face a special flat rate on dividend income above the threshold. Section 115BBDA subjects aggregate dividend income above a statutory threshold received by a specified resident assessee from domestic companies to a ... Summary
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Tax on high-value dividends: specified residents face a special flat rate on dividend income above the threshold.
Section 115BBDA subjects aggregate dividend income above a statutory threshold received by a specified resident assessee from domestic companies to a two-part tax: a concessional flat rate on the excess dividend amount and the taxpayer's ordinary income tax computed after excluding that excess; deductions, allowances and loss set-offs are disallowed against the dividend income so taxed, and the section defines "dividend" and "specified assessee" with specified exclusions.
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