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.
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