A senior citizen 70+ stopped filing ITR due to income being below 3 lacs.
This year his gross income is likely to be 5 lacs due to higher dividends on the stocks held in the different companies.
What is the options open to him to comply with Income tax rules. TIA
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Dividend Income above exemption limit?
Replies (2)
Quick Summary
If income is more than the Minimum exemption limit during the year than to comply with Income Tax rules, file ITR by due date .
File itr.
dividend above 10 lacs fir an individual is subject to income tax.
dividend above 10 lacs fir an individual is subject to income tax.
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