while computing total income should we include
dividend received by Indian company above 5000 being subjected to income tax as it attracts TDS from FY 21 onwards or should it be exempted while computing total income ?
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Dividend income above Rs 5000 should be included while computing total income or not ?
Replies (6)
Quick Summary
Its taxable u/h. IFOS, hence any dividend income should be declared for assessment. While you can claim the TDS in ITR.
Dividend above rs.5000 which section mentions that?
Previously the limit was 5000 but now it is removed.Now any income received as a dividend shall be taxable under IOS.
As per Section 194, TDS shall be applicable to dividends distributed, declared or paid on or after 01-04-2020, an Indian company shall deduct tax at the rate of 10% from dividend distributed to the resident shareholders if the aggregate amount of dividend distributed or paid during the financial year to a shareholder exceeds Rs. 5,000.
Wrong. Read the recent finance bill.
Clarify, what is wrong?
The answer is for TDS deduction based on recent amendment and not its exemption. Its taxable in the hands of dividend receipant.
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