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?
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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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