Budget 2016-17 :
Income Tax on Dividend Income..!
In an attempt to
bridge income inequality a rationale has been formed that persons with higher
income can bear higher tax cost.
Thus, it is proposed
that in addition to Dividend Distribution Tax (DDT) paid by the companies,
income tax at the rate of 10% of gross amount of dividend will be payable by
the recipients i.e. individuals, HUFs & firms receiving dividend in excess
of Rs. 10 lakh per annum.
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