Efiling ; itr2 ay : 2018-19

My query pertains to the current year’s 2018-19 Excel Utility for filing ITR 2 form in which I am not able to enter Amount in Schedule OS ( other sources ) against the item “ Dividend income from domestic company that exceeds Rs. 10 Lakh (u/s 115 BBDA) “ as it is protected and prompts for a password. This item’s Amount has also to be taken (reflect) to Schedule SI. I find no other option to reflect the same in the form elsewhere. Is there a technical issue in form faced by everyone or is there any other alternative , please suggest and advice.

Replies (7)

No. There is no problem in it.

Only thing is you should have filled general information properly (specifically residential status).

Secondly the cell will open if the total agreegate income exceeds basic exemption limit.

& select the option 

115BBDA-(Dividend income from domestic company exceeding Rs.10lakh)

 in earlier cell.......

Good Luck..

Thanks. This very senior citizen has Dividend income Rs.10,77,000 and total income is 2,90,000. Will he have to pay Tax on Rs.77,000 or will it be adjusted against basic exemption for AY 2018-19 filing form Itr2 and 5 Lakhs is basic exemption available to him

Tax u/s. 115BBDA is at special rate of 10%, which cannot be included in basic exemption limit.......

Thank you Sir for the prompt clarification. I was confused by the advice in our previous communication stating “Secondly the cell will open if the total agreegate income exceeds basic exemption limit.” On doing so in the form I found that even if the income is below the exemption limit the Amount got reflected in the locked cell and was taken to Schedule SI and levied a special rate thereon. This is like a sort of Triple taxation on Dividend. Thanks

No, it is not triple tax. Check your tax liability, it would be just Rs. 7700/- + 3% cess...

Yes Sir agreed. The tax liability will be lesser than that also as total income is 2,13,000 + 77,000 and will qualify for tax Rebate of 2,500 My point was Dividend tax is already paid by Domestic companies after paying taxes on profits they make and again charged on Distributing dividends and now also charged on recipients of Dividend which they earn on their investments.

1. Companies pay tax....... OK first hand.

2. Dividend distribution tax paid on behalf of shareholders.... again first hand (otherwise shareholders would have been taxed)

3. Finally 10% additional tax over and above 10 lakhs tax-free dividend, over rich sharholders is some thing like cess (over additional income/dividend)..... second tax....

3. No triple tax !!!

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