Share dividend treatment

127 views 4 replies

Hello All

  1. My wife is a homemaker, does NOT have any salaried jobs
  2. She received during 2015-2016 TOTAL DIVIDEND Rs 828 from different shares which she purchased during 2010-2011.
  3. If her income is LESS than Rs 2, 60,000 for 2015-2016, then NO NEED to file IT return and thereby disclosing above DIVIDEND will NOT take place. (my understanding is right or wrong)
  4. If her income more than Rs 2, 60,000, then we MUST file IT return. (my understanding is right or wrong)
  5. During such filing WHERE (point number pls) she should show above DIVIDEND in IT return?
  6. What would be TAX or Treatment of this DIVIDEND Rs828?

Please ANSWER points 3,4,5,6

Adv Thanks

               Cheers

               Balaji Subbu

Replies (4)
If her income is LESS than Rs 2, 60,000 for 2015-2016, then NO NEED to file IT return and thereby disclosing above DIVIDEND will NOT take place.
Income is more than 2.5 lakhs, return is mandatory to be filed.

 

 


 

During such filing WHERE (point number pls) she should show above DIVIDEND in IT return? What would be TAX or Treatment of this DIVIDEND Rs 828?
 
Dividend received from an Indian company which has suffered dividend distribution
tax is exempt from tax under section 10(34) otherwise it is taxable

Hi Dinesh

 

What about point number 5 and 6, kindly answer

 

cheers

Balaji Subbu

During such filing WHERE (point number pls) she should show above DIVIDEND in IT return? What would be TAX or Treatment of this DIVIDEND Rs 828?

As described above, if it is exempt under section 10, then show it in Return as exempt income
and if it is taxable then consider it as income from other sources

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