How dividend income should be shown?

Hi All...

Just wanted to ask how is dividend income being shown in income tax return? As per new requirement the dividend income is to the shown in  return alongwith dates but this indeed becomes every tedious task in case of persons having huge income from dividend. 

Also anyone using spectrum can guide how it is to be shown?

Should dividend from mutual funds and shares shown as a combined figure or different figure? 

Replies (4)
Quick Summary
This discussion addresses the new requirement to show dividend income quarterly on income tax returns, which can be a tedious task for those with substantial dividend earnings. Participants clarify that dividend income from mutual funds and shares should not be segregated for reporting purposes, unlike capital gains. While reporting quarterly is mandated to avoid validation errors, practical advice suggests using Excel to group dividend entries by date into the defined tax quarters. For smaller amounts or when there's no significant tax liability, one might consolidate into the first quarter for simplicity.

Dividend income has to be shown "quarter wise " as per Inc tax definition of quarters ( five quarter in a previous year.)
Use Excel . Yes it's tedious but there's no way out. For dividend , there is some sec which has to be used for classification .That sec is there in the utility where dividend is to be filled .Just read it.As far as I remember it's not stating mutual fund and share segregation.The segregation between MF and share is for LTCG STCG income not for dividend income.
What is spectrum?
You can choose to report in 1st quarter for practical purposes where the dividend income is small and/or the interest component is not huge or there is no final tax liability
If quarter wise is not shown it may result in validation errors!

Simply take all your dividend credit entries that came in the bank account(s) by date, starting from 1st April 2020 upto 31st March 2021. Then group them in respective quarters. Adjust those entries in the excel as per the quarter dates defined by the Income Tax department. The quarter breakup should total the actual total of Dividend reported on Schedule IOS. 

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