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New itr where to show dividend income from mutual funds

ackyash (Director) (42 Points)

06 April 2017

In New ITR's for AY 17-18 where do we show dividend income recd from mutual funds. This is exempt income but EI tab just shows "Dividend income from Domestic Co (amt not exceeding Rs. 10 lacs).

My client has Dividend from equity mutual finds and debt mutal funds in excess of Rs. 15 lacs during FY 16-17 which is primarily Dividend Reinvested in the funds.

Please help.

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9 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 06 April 2017

5 Others, including exempt income of minor child

Muneer Ahamed (Business) (44 Points)
Replied 08 April 2017

Sir,

Me and my spouse both have invested in an LLP as a partner and we have received an income after deducting tax as an exempted income.

My spouse is working and she has her form 16, last year she filed her returns in ITR 1 as she didnot have any exempted income last year. As i said she has exempted income in F.Y 2016-17, which form she has to chose in A.Y.2017-18 to show her salary income as well as her exempted income, whether it is ITR 1 or 2. Please guide me.

Muneer Ahamed (Business) (44 Points)
Replied 08 April 2017

Sir,

I forgot to mention my query in previous question, Sir, as I said Me and my spouse both have invested in an LLP as a partner and we have received an income after deducting tax as an exempted income in F.Y. 2016-17.

I have filed my returns last year in ITR 4S and plese guide me which form I need to choose my self this year for A.Y.2017-18 to file my returns as I have exempted income from LLP this year. Can I chose ITR 4S again this year for my returns, if yes then where to mention the exempted income in ITR 4S. Please guide me regarding the correct ITR form in my case.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 08 April 2017

" as I said Me and my spouse both have invested in an LLP as a partner and we have received an income after deducting tax as an exempted income in F.Y. 2016-17."

As per the income from parnership firm/LLP (even for exempted income) you both are required to file ITR 3 for AY 2017-18.

Muneer Ahamed (Business) (44 Points)
Replied 08 April 2017

Sir

The LLP is not formed by ourselves, we are not working partners in that LLP. We have just invested some amount as a partner and got income at the end of the year. in that case also we need to file ITR 3 or other form, please guide.