My Income source is Salary I have received Form 16 from my employer I have rec'd Dividend worth RS.9600 This income is taxable or not this income was not shown in my form 16
If I show this income in my ITR what is my tax liability My Income is exceed RS 500000/-
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Dividand income up to Rs 10000/- taxable
Replies (14)
Dividend received from an Indian Company is exempt if the company has paid dividend distribution tax (DDT) on the same. However. dividend received foreign companies, normally would not be subject to DDT, would hence be taxable.
Dividend income is fully exempt.
Can I show this Dividend Income in ITR or not If I show this Income e in ITR than under which section I claim exemption
Hello Dilip,
Dividend received is exempt from tax u/s 10(34) if DDT is paid by domestic company.You can show this income under income from other source head .However if dividend received is execced Rs.10,00,000/- than it is taxable u/s 115BBDA even if DDT is paid by the domestic company.
Amit ji
if I show this income in ITR-1 System will calculate IT
for exemption
if I show this income in ITR-1 System will calculate IT
for exemption
where I show this income in ITR1
Show it in exempted income column
you can show it under the head income from other source as exempted income . eg. Dividend Received u/s 10(34) Rs.9600/-
While E filing when I show Dividend income in other source income & also show this same ant in exempted income System had calculated IT @ 20 % than I have to pay this amt additionally system had ignore exempted income
even though this income is exempted than system calculate IT if I show this amt in IT returne
you must select correct section under which income is exempted i.e 10(34). if you will select correct section ,i dn't think that system will calculate tax on exempted income.
I have deleted amt from income from other source & show this Amt in exempted income head u/s 10(34) which is for reporting purpose only so my problem sloved
No need to show in other sources only show it in exempt income for reporting purpose only.
Great! Happy to Hear. Its Ok No problem .You Complmying with law.
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