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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Tax Treatment on Chit Dividend
Replies (1)
Taxability of dividends u/s 115BBDA is based on definition of dividend u/s 2(22). As per the said definition, we can not treat chit dividend as a dividend taxable u/s 115BBDA. But taxability of chit dividend under any other provision is to be checked.
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