Advance tax on dividend income
This query is : Resolved
24 June 2023
Hello Experts,
Is the advance tax applicable to be paid on Dividend Income for A.Y.: 2023-24
Thanks in advance
Is the advance tax applicable to be paid on Dividend Income for A.Y.: 2023-24
Thanks in advance
24 June 2023
Yes, advance tax payable on dividend income.
25 June 2023
In case of failure to pay full advance tax due; TDS is already deducted-will it be liable for interest or penalties at the time of filing returns.
25 June 2023
Interest applicable in case the 90% of taxes are not paid through TDS and advance tax and the shortfall exceed Rs 10,000
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26 June 2023
If the shortfall in advance tax is on account of Dividend Income, no interest under Section 234C shall be charged. Please interpret & confirm it for me as feedback received from other sources.
26 June 2023
Provisions for advance tax are applicable if a taxpayer's total tax liability is equal to or more than Rs. 10,000 in a given FY. Penalty and interest are levied if there is short-payment or non-payment of advance tax liability.
26 June 2023
Thanks for your quick revert.
As per other sources getting a feedback as under;
Income referred to in Section 115BBDA ( i.e: Dividend received from Domestic Companies exceeding 10 lakhs ) As immediate TDS is deducted as advance tax , interest will not be levied as it comes under Section 234C
Please guide in the matter 🙏🏻
As per other sources getting a feedback as under;
Income referred to in Section 115BBDA ( i.e: Dividend received from Domestic Companies exceeding 10 lakhs ) As immediate TDS is deducted as advance tax , interest will not be levied as it comes under Section 234C
Please guide in the matter 🙏🏻
26 June 2023
Section 115BBDA is a provision that imposes a flat tax rate of 10% on dividend income exceeding Rs. 10 lakh received by resident individuals and HUFs.
This is in addition to normal tax payable.
Fill ITR and check interest payable.
This is in addition to normal tax payable.
Fill ITR and check interest payable.
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