Chit fund dividend
B GKAMATAR (TAX CONSULTANT) (150 Points)
03 November 2021
chit fund dividend is taxable or exempt, before and after bidding
1 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 03 November 2021
The dividends earned in a chit are not taxable. If you want to claim the bid as loss then these dividends has to be shown as revenue income in the assessment. Hence the entire dividend earned in a chit is not taxable if you don't claim the bid amount as loss.
Recent Topics
- Claim of ITC more than 2B
- How to go Old regime to new regime
- "How should I begin preparing for CA foundati
- SBI or State Bank of India Passbook printing forma
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Requirement to prepare Consolidated financial stat
- Government grant not repayable
- Late fess for challan PMT 06 under self assessment
- Sustainable Luxury with Timeless Beauty – Ex
- Rebate u/s 87A on short term capital gains
Related Threads
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
