Dividend related

This query is : Resolved

Rashi (Querist)
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14 June 2009 Hi,
Dividend of Ambuja Cement was declared on 18th Feb 09 but I received it on 9th Apr 2009. I know there is no tax on dividend but still I need to show the dividend amount in the income tax return form.
My question is:
The dividend was declared on F.Y. 2008-2009 but received on F.Y. 2009-2010. So in which F.Y. should I show this dividend.

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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15 June 2009 Since it is income from other source, it will be taken According to method of accounting adopted by assessee

Deepak Goel

Deepak Goel (Expert)
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15 June 2009 Dividend income can be taken as per receipt basis or depend on according to accounting method adopted by assessee.

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CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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15 June 2009 In case of dividend, it does not depend upon the method of accounting since there is specific section is there.

Sec.8 governs the taxability of dividend.

Interim Dividend is taxable when it is received.

Final dividend is taxable in the year of AGM.