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Chit dividend

This query is : Resolved 
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(Querist)
02 February 2011 Dividend Earned on completion of Chit is taxable or exempted in the hands of subscriber? please clarify.
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Guest

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Guest (Expert)
02 February 2011 It will be taxable. Please explain if there is special character this dividend
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kiran

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kiran (Querist)
18 February 2011 suppose if i have not invested the bid amount in business and not having any business income. what is the position?
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Guest

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Guest (Expert)
18 February 2011 If you don't have taxable income, you need not to bother.
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