Dividend credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2016 Suppose a person is a shareholder of a bank and received dividend therefrom. He also has an account in the same bank. When the dividend is received from the bank, can it be treated as a transfer entry from the bank to the accountholder cum shareholder instead of sending the dividend cheque for clearing. It is assumed that the shareholder has not opted for ECS.
Regards and thanks in advance

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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20 July 2016 you can directly take credit as Dividend Received. Dividend Received from Indian Company is Exempt from Tax.

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