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of <h1>Finance Bill 2017 amends Income-tax Act Section 115BBDA, expanding tax scope on dividends over 10 lakh from 2018.</h1> Clause 44 of the Finance Bill, 2017, amends section 115BBDA of the Income-tax Act, effective April 1, 2018. The amendment changes the term 'an assessee, being an individual, a Hindu undivided family or a firm' to 'a specified assessee,' broadening the scope to include all resident persons except domestic companies, certain educational and medical institutions, and trusts registered under section 12AA. The section imposes a 10% tax on dividends exceeding ten lakh rupees, applicable from the assessment year 2018-2019 onwards. The definition of 'dividend' excludes sub-clause (e) of clause (22) of section 2.
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