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imran khan (imran@123)     23 January 2021

imran khan
imran@123 
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if an individual who earns company dividend last preceeding 4 years and that dividend amt credited to bank in current year? what are the treatment is to be done
if Dividend exceeds 10 lacs
or Dividend utilize to any investments
Sourav

Sourav (Student)     23 January 2021

Sourav
Student 
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It is income from other sources
yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     23 January 2021

yasaswi gomes
My grammar is 💯 good I 
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the provisions of Section 115-O shall not be applicable if the dividend is distributed on or after 01-04-2020. Thus, if the dividend is distributed on or after 01-04- 2020 the domestic companies shall not liable to pay DDT and, consequently, shareholders shall be liable to pay tax on such dividend income. So from that date you will pay taxes from your end. I’m assuming this because you must be receiving dividends every year and there is TDS on your income. 

The only dividend deductions available is expenses related to raise that dividend income. I did not see any claims available for reinvestment of your income.

https://incometaxindia.gov.in/tutorials/tax%20treatment%20of%20dividend%20received.pdf

 

CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant)     23 January 2021

CA Rashmi Gandhi
Chartered Accountant 
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It is treated as income from other sources.

Refer this link for detailed clarification

https://cleartax.in/s/how-dividends-taxable
Kapadia Pravin

Kapadia Pravin   24 January 2021

Kapadia Pravin

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If dividend exceeds 10 lakhs, excess is taxable under IFOS.
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yasaswi gomes

yasaswi gomes (My grammar is 💯 good I)     24 January 2021

yasaswi gomes
My grammar is 💯 good I 
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Txs.. I read that section but dividend is already received annually and TDS was collected isn’t it and besides he is not selling it.

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Krishna Chaudhary

Krishna Chaudhary (Accountant)     25 January 2021

Krishna Chaudhary
Accountant 
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From CURRENT PY it will be taxable. mean taxable from AY 21-22
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CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant)     25 January 2021

CA Rashmi Gandhi
Chartered Accountant 
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Even though you are not selling it , but Income from Dividend arises theron. Same is taxable in excess of 10 lakh.

Pay tax theron and claim TDS deducted

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