dividends

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SHASHI VARDHAN (Querist)

07 July 2011 1. Dividends arises from mutual funds are taxable or not ?

2. which form should be used to file Income Tax return if some one is having dividends? weather SAHAJ or ITR-2 ?

i have only salry income and dividends then SAHAJ form is applicable or not ?
Pls clarify its urgent.

thanks.

amit

amit (Expert)

07 July 2011 Dividend received form the equity oriented mutual fund are exempt as per sec 10(34). Therefore dividend received on Equity linked Saving scheme are exempt from tax

Decide the ITR form based on other heads of Income.

Apart from the Dividend, If you receive only salary income - ten ITR - 1

If you receive salary along with the combination of capital gain (and/or) and house property income, then - ITR - 2

If you are in business or profession and if it is a partnership firm and earned income from such, then - ITR - 3

If you earn such business or profession income from sole proprietorship, then - ITR - 4

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