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of <h1>Finance Bill 2017: 10% Tax on Dividends Over 10 Lakh, New 5% TDS on Rent Over 50,000 Monthly</h1> The Finance Bill, 2017 proposes amendments to enhance tax equity and compliance. Section 115BBDA will be amended to impose a 10% tax on dividend income exceeding 10 lakh for all resident assessees, excluding domestic companies and certain entities, effective from April 1, 2018. Additionally, a new section 194-IB will require individuals and Hindu undivided families (HUFs) not covered under section 44AB to deduct 5% tax at source on rent payments exceeding 50,000 per month, effective June 1, 2017. This aims to broaden tax deduction scope without requiring a tax deduction account number (TAN).
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