Share dividend treatment

84 views 4 replies

Balaji Subbu

SAP FICO

220 Points Joined March 2008

Hello All

My wife is a homemaker, does NOT have any salaried jobs
She received during 2015-2016 TOTAL DIVIDEND Rs 828 from different shares which she purchased during 2010-2011.
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)
If her income more than Rs 2, 60,000, then we MUST file IT return. (my understanding is right or wrong)
During such filing WHERE (point number pls) she should show above DIVIDEND in IT return?
What would be TAX or Treatment of this DIVIDEND Rs828?

Please ANSWER points 3,4,5,6

Adv Thanks

Cheers

Balaji Subbu

Replies (4)

Dinesh Mertiya

PROFESSIONAL

761 Points Joined December 2009

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.

Dinesh Mertiya

PROFESSIONAL

761 Points Joined December 2009

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

Balaji Subbu

SAP FICO

220 Points Joined March 2008

Hi Dinesh

What about point number 5 and 6, kindly answer

cheers

Balaji Subbu

Dinesh Mertiya

PROFESSIONAL

761 Points Joined December 2009

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