Dividend received from an Indian Company.

Dividend received from an Indian company which has suffered dividend distribution tax is exempt from tax u/s 10(34)

However, as per section 115BBDA, in the case of a *”specified assessee” dividend shall be chargeable to tax at the rate of 10% if aggregate amount of dividend received from a domestic company during the year exceeds Rs. 10,00,000.

*”Specified assessee” means a person other than,—

  1. a domestic company; or
  2. a fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or
  3. a trust or institution registered under section 12A or section 12AA.

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