I received SMS from Income Tax and found I have not disclosed RSU dividend along with Schedule FA for FY22-23 and FY23-24.
I have never sold my company given RSU but did received dividend every year since 2022.
I started reporting Schedule FA and tax on RSU dividend from FY24-25 and FY25-26.
Which category I fall and which form I need to submit?
Do I need to pay 1L penalty for total 92k dividend I got from CY22 and CY23? or 60% of 92k?
To resolve the query, file an Updated Return (ITR-U) for FY 2023-24 to disclose Schedule FA and pay the tax on dividend income with the 50% additional tax fee, while submitting a detailed clarification on the e-Compliance Portal for FY 2022-23 attaching proof of employer RSU vesting and dividend statements to close the nudge without incurring heavy penalties.
N N V Satish & Co.,
Hyderabad
CA Inter
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AJAY SINGH AND CO LLP
Thane
CA Final
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CCI
Pro
CAclubindia
