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.
Ashik Ahamed (18 Points)
10 October 2020Hello 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.
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.
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