Tax Treatment on Chit Dividend

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18 Points Posted on 10 October 2020

Hello everyone.

I have a practical issue that "how to treat tax on dividend from Chit fund?".

Whether the dividend from Chit fund in excess of 10 Lakhs covers under Section 115BBDA?

Kindly help me.

Thanks in advance.

 

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On 10 October 2020 at 14:16 Report
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Quick Summary
This discussion clarifies the tax treatment of dividends received from chit funds. It confirms that dividends from chit funds do not fall under Section 115BBDA. Instead, they are subject to taxation at your regular income tax slab rates.

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12244 Points Posted on 10 October 2020
115BBDA doesn't applicable to chit dividends
1 Reply
On 10 October 2020 at 21:29
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18 Points Posted on 11 October 2020
Thank you so much sir. Which means "Chit Dividend" attracts normal slab rate? Is it correct sir.
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On 11 October 2020 at 19:07
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234 Points Posted on 12 October 2020
Yes.Chit fund dividends are taxable at normal slab rates
1 Reply
On 12 October 2020 at 09:15

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