Tax on dividend received in trading business
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 February 2012
I show my income from share trading under "Income from Business". So my question is do I have to show dividend received by crediting it to P&L A/c, being indirect income or can I show it under "Other Incomes" ?
10 February 2012
Dividend is shown under the head IFOS but it's not an "other income" as it is incidental to the business.
.
It can be shown in profit & loss A/c in the name of Dividend.
.
In computation of total income it can be separated from Business income and considered as an exempt income under the head Income From Other Sources.
.
.
It can be shown in profit & loss A/c in the name of Dividend.
.
In computation of total income it can be separated from Business income and considered as an exempt income under the head Income From Other Sources.
.
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
- House Property Reporting in ITR
- Refund Annexure-B
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
