DIVIDEND SHOWS BUT NOT PAID FOR THE F.Y. 2019-20

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This query is : Resolved

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This discussion addresses a query about dividends declared for the financial year 2019-20 that appear in NSDL CAS but haven't been received. The consensus is that if the company paid Dividend Distribution Tax (DDT), the dividend is exempt in the shareholder's hands, even if received in FY 2020-21. This exempt income should be reported accordingly in your Income Tax Return (ITR).

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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02 August 2020 QUESTION WAS ASKED FOR THE F.Y. 2019-20 AND NOT F.Y. 2020-21. DIVIDEND EARNING SHOWS IN NSDL CAS BUT THE AMOUNT NOT RECEIVED IN CASH. WILL THE AMOUNT TO BE TAKEN IN MY TOTAL INCOME OR THE AMOUNT TO BE SHOWN AS EXEMPTED INCOME IN ITR FOR REPORTING PURPOSE ONLY?

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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02 August 2020 ALWAYS YOU USED TO REPLY AGAINST EACH QUESTION. AT PER YOUR REPLY IS SOLICITED FOR THE QUESTION ASKED FOR TO DAY.

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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03 August 2020 KINDLY REPLY AGAINST ABOVE CITED QUESTION WHICH WAS ASKED FOR THE F.Y. 2019-20 AND NOT FOR THE F.Y. 2020-21.KINDLY DO THE NEEDFUL.

CA Raj Doshi

CA Raj Doshi (Expert)
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04 August 2020 Dividend on which company has paid DDT shall be exempt in the hands of shareholder even if it is received in FY 2020-21 as it declared in FY 2019-20. Regards CA. Raj Doshi R C D & Co. Chartered Accountants

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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09 August 2020 Currently, DDT is paid by the companies before paying dividend to their shareholders. Therefore, it made dividend received by the shareholders of the company of tax-free in their hands. Further, taxpayers earning dividend income of more than Rs 10 lakh are required to pay tax at the rate of 10 per cent.

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