Taxation of received divident

Many companies have announced dividend payout in Q2 results. I wanted to know if we need to pay tax on that received dividend?

Yes, from FY 20-21, dividend income shall be taxable in the hands of the shareholder under his ITR. And TDS shall also required to be deducted by the company if the dividend income exceeds Rs. 5,000/- per FY.

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@cailajindal @ShubhS9 what will happen in cases like Vedanata or Hind zinc when investor sell today as EX dividend but broker will remove same day and keep in his pool account ( need to deliver to settlement only after record date )THUS HE GET DIVIDEND after tds deduction which he will credit to investor in trading account after few days .
(A) how the investor will claim TDS in his tax return (B) how the investor will get refund of TDS if he does not file tax return being non tax payee ?

As explained here.

TDS may also be deducted if you sell your holdings on ex-date, Zerodha receives the dividend on your behalf before crediting it to your ledger. If the TDS is deducted, the credit will be updated against your PAN.

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QueryA- TDS deducted by the company on your dividend income will appear in your Form 26AS and you shall also recieve Form 16A on a quarterly basis from the payer company. While filing your ITR, fill the TDS amount along with corresponding income in the ITR Form in “TDS schedule” as per the amount appearing in your Form 26AS.

QueryB- TDS claim can be possible at the time of filing of ITR. Hence, apply for Form 15G to the payer company if you want NIL or lower TDS deduction on your dividend income.