Create a new block view either selecting the single content type or all. Now, we will add two contextual filters. Content Id and the field which has taxonomy term id.
Configure Content Id filter as follows:
Provide default value: Content ID from URL
Under More tab - Check next to Exclude
Configure field which has taxonomy term id as follows:
- Provide default value: Taxonomy term ID from URL
- Uncheck: Load default filter from term page
- Check next to Load default filter from node page, that's good for related taxonomy block
- Multiple value handling: Filter items that share any value.
- Under more tab check: Allow multiple values.
That's it. After saving your view go to bock page and enable it where ever you want.