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.
1 Replies
Madhusoodanan
(DFD)
(32 Points)
Replied 12 October 2020
Taxability of dividends u/s 115BBDA is based on definition of dividend u/s 2(22). As per the said definition, we can not treat chit dividend as a dividend taxable u/s 115BBDA. But taxability of chit dividend under any other provision is to be checked.
Recent Topics
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
Related Threads
CAclubindia
