Accounting group of Dividend receivable

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This discussion clarifies the accounting treatment for dividend receivables according to Schedule III of the Companies Act. It confirms that dividend receivables are classified as current assets and are accounted for on a receipt basis. Furthermore, it's established that dividends are taxable solely upon receipt.

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(Querist)
19 November 2023 what is accounting group of Dividend receivable as per scheduled III of companies act.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 November 2023 It's current assets.
Dividend accounted on receipt basis.
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Daya

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Daya (Querist)
20 November 2023 sir,
is dividend taxable on receipt basis only?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 November 2023 Yes it's taxable on receipt basis.
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