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
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
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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