Section 115 BBDA: New 10% Tax on Dividend Income Over 10 Lakh for Individuals, HUFs, and Firms in India.

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Full Text of the Document

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....Insertion of new section 115 BBDA-Tax on certain dividends received from domestic companies. - any income by way of dividend declared, distributed or paid by a domestic company, in excess of ten lakh rupees shall be chargeable to tax at the rate of ten per cent. in the case of an individual, Hindu undivided family or a firm who is a resident in India.....