Dividend income more than 10 lacs

This query is : Resolved

DEBASIS MAITI (Querist)
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30 June 2018 I am received Dividend 25 Lacs from very us mutual fund company, financial year 2017-18 now this income is exempted or pay income tax 10 % section 115BBDA
If this income is exempted in ITR 2 whare this in come show in return

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 June 2018 Dividend received from an Indian company is exempt from tax. Since the company declaring such dividend already deducts dividend distribution tax before paying you.

However, as per Budget 2016, in the case of a resident individual/HUF/Firm, the dividend shall be chargeable to tax at the rate of 10%, if the aggregate amount of dividend received from a domestic company during the year exceeds Rs 10,00,000 (Section 115BBDA).It is to be noted that tax shall be chargeable on dividend income to the extent it is in excess of Rs 10 lakhs in aggregate received from Indian companies.

Dividend received from a foreign company is taxable. It will be charged to tax under the head “income from other sources.”