Dividend withholding tax exemptions apply to specified insurers, business trusts, notified persons, and qualifying small non-cash individual dividends.

Dividend withholding tax is not required under Section 393(4) where dividends are paid to specified insurers, a Business Trust receiving dividend from a specified Special Purpose Vehicle, or another notified person, subject to ownership or full beneficial-interest conditions. TDS is also not required for a small non-cash dividend paid to an individual shareholder where the aggregate dividend during the tax year remains within the prescribed threshold.

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