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Dividend income reporting

Tax queries 430 views 1 replies

Dear Sir/Madam,

I am a bit confused about reporting dividend income.

Suppose dividend amount credited in bank (as credit entry in statement)  is 45000 and TDS is 5000, what amount should be reported as dividend income 45000 or 50000 in ITR.

Thanks.

Replies (1)
On dividend, 10 percent TDS is deducted. If 5000 is TDS, the. TDS amount divided by 10 percent shows your dividend income, which is 50000 in this case. So you must report 50000 as dividend in ITR, and the TDS deducted shall be included in the respective TDS section/column.

Amount reflected as credit in your statement is actually received after applicable deductions if any, like TDS deducted for you.


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