Dividend income
This query is : Resolved
22 December 2009
As per income tax dividend income is free. But if the dividend income is 20,00,000/- I want to know that whether it is business income or not and if it is business income whether he has to maintain books of account or not. He is a managing director of a company and his main income is salary as MD.
Thanks
Thanks
22 December 2009
No need to maintain books of account as he is not running any business.
Dividend is not a business income.
Dividend is not a business income.
23 December 2009
The applicability of section u/s 44AA is based on gross receipts and turn over.
And hence receipt of dividend does comes under business receipts or turn over and hence he need not maintain books of accounts
And hence receipt of dividend does comes under business receipts or turn over and hence he need not maintain books of accounts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
