Gross dividend income to be shown in I-T Return in TDS Schedule
This query is : Resolved
Quick Summary
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.
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.
04 June 2022
Yes, you have to manually correct the dividend figure in the From 26AS while reporting the TDS deduction.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Taxable or Tax exempt
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- DIN reactivation
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Eway bill generation from place other than registeted
- CREDIT NOTES WITHOUT GST
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
