Section 2(22)(e): Deemed Dividend - Taxability in FY 20-21

Dividend is taxable u/s 56 in hands of shareholder from 1-4-20 and exemption u/s 10(34) has been removed.

source https://www.caclubindia.com/articles/section-2-22-e-deemed-dividend-taxability-in-fy-20-21-47038.asp