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Dividend Disturbution Tax Abolished: FM

Dividend Disturbution Tax Abolished: FM

Saturday, February 1, 2020, 3:18 PM

Finance Minister Nirmala Sitharaman eliminated the dividend distribution tax levied on dividends issued by companies. Dividend income will now be taxed only in the hands of investors as per the tax rate applicable to their income. "In order to remove the cascading effect I also propose to allow a deduction for dividend received by a holding company from a subsidiary," she added.
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