OCI holder. Dividend income only in India. Is tax payable or refundable
This query is : Resolved
02 June 2024
two short queries
1. Had lost shares so received dividend income of past years this year. but no tax was deducted on the dividend income credited to the bank account. So does it need to declared as income of this year (FY23-24) and tax to be paid for the AY2425
2. Current FY year dividend was paid by the company into the bank account and tax was deducted at 20%. Total dividend approx 1.1 lacs for current and past years (as per point 1 above). Since no other income besides these dividend income in India. Will tax on dividend be refunded or 20% is payable irrespective of income in India.
1. Had lost shares so received dividend income of past years this year. but no tax was deducted on the dividend income credited to the bank account. So does it need to declared as income of this year (FY23-24) and tax to be paid for the AY2425
2. Current FY year dividend was paid by the company into the bank account and tax was deducted at 20%. Total dividend approx 1.1 lacs for current and past years (as per point 1 above). Since no other income besides these dividend income in India. Will tax on dividend be refunded or 20% is payable irrespective of income in India.
03 June 2024
1. If the dividend income was assessed in preceding year, by declaring the income in relevant ITR, no need to declare it again.
2. Otherwise declare total dividend in current year, pay tax liability over aggregate income and claim excess as refund, if any.
2. Otherwise declare total dividend in current year, pay tax liability over aggregate income and claim excess as refund, if any.
04 September 2024
Good Luck.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Applicability of Ind As to associate of associate
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
