Hello everyone.
I have a practical issue that "how to treat tax on dividend from Chit fund?".
Whether the dividend from Chit fund in excess of 10 Lakhs covers under Section 115BBDA?
Kindly help me.
Thanks in advance.
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Tax Treatment on Chit Dividend
Replies (3)
115BBDA doesn't applicable to chit dividends
Thank you so much sir.
Which means "Chit Dividend" attracts normal slab rate?
Is it correct sir.
Yes.Chit fund dividends are taxable at normal slab rates
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