Gross dividend income to be shown in I-T Return in TDS Schedule

This query is : Resolved

Rammohan (Querist)
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04 June 2022 A company declares a dividend the amount of which is less than Rs 5,000/- in the hands of a shareholder and so there is no TDS.
Subsequently, in the same FY, the company declares a further dividend, taking the total dividend paid to more than Rs 5,000/-, and so there is TDS on the total of both dividends paid. (This TDS is made from the second dividend amount.) In such cases, Form 26AS shows only the second dividend amount paid against which the TDS figure (on both dividends) is shown.

The I-T Return requires us to show the "Corresponding Receipt/Withdrawals Offered" which means that we have to show the total of both dividends whereas the pre-filled figure would be only the second dividend amount on which tax has been deducted. Hence while filling in the TDS schedule, should one correct the pre-filled figure in the ITR to the total of the two dividends?

Form 26AS needs to be corrected by the I-T Dept. correspondingly as otherwise the total of the dividends received as shown in the pre-filled ITR, would not tally with the record of shareholders, which may lead to avoidable correspondence.

CA Puja Sharma

CA Puja Sharma (Expert)
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04 June 2022 Yes, you have to manually correct the dividend figure in the From 26AS while reporting the TDS deduction.

Rammohan

Rammohan (Querist)
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04 June 2022 Thank you for your response, madam.

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