Become a Govt. Certified GST Practitioner in just 60 hrs. Register Now!

Validating ITR2

17 November 2021

What does the following error message mean while validating and verifying the draft ITR?

"Dividend income must be equal to 1a(i) of Schedule OS -DTAA of Dividend - System calculated value of Interest expenditure u/s 57(1) of Schedule OS. (file attached)

How should I correct the mistake, if any?

Reply
Follow
Share

7 Replies

Jatin Mittal (CA) (38 Points)
Replied 17 November 2021

Could you please clearly explain the error?

Upgrade to CAclubindia Pro. Subscribe Now!

Manikanta juluri (Student) (252 Points)
Replied 18 November 2021

Check dividend income in schedule OS

Suryanarayana M H (Teacher) (12 Points)
Replied 18 November 2021

This is precisely my problem. This is the error message I got. I do not know how to inerpret it.

Suryanarayana M H (Teacher) (12 Points)
Replied 18 November 2021

I have checked dividend income. Another error message shows that the dividend income (from mutual fund) and the corresponding TDS for the FY 2020-21 reported pertain to the year FY 2019 (which is not correct).

Vivek Gupta (Service) (24 Points)
Replied 21 November 2021

Same issue here.

"Dividend income must be equal to 1a(i) of Schedule OS -DTAA of Dividend - System calculated value of Interest expenditure u/s 57(1) of Schedule OS.

Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=583213

there is no dividend that is covered under DTAA --- still getting this error. Have mentioned break up of dividend as well.

Upgrade to CAclubindia Pro. Subscribe Now!

Sachin Patki (2 Points)
Replied 06 December 2021

I had same issue while filing this and found below article which helped me. Please check if that works for you

https://financetecho.com/new-itr-rules-for-reporting-dividend-income.H T M L

Validation error while filing ITR Form

While validating ITR form users may get validation error for dividend income that Dividend Income must be equal to 1a(i) of Schedule OS-DTAA of dividend-System calculated value of interest expenditure u/s 57(1) of Schedule OS.

The above validation error can be rectified by providing information about accrual receipt of dividend under point 10 of Schedule Other Sources (Income from other sources).

To rectify the error, income tax filer should bifurcate the dividend amount and disclose the amount of dividend received in each quarter of the financial year, then ITR tool will not show the validation error.

Suryanarayana M H (Teacher) (12 Points)
Replied 06 December 2021

Thank you. Yes, it works. I face another problem. My capital gain is negative for one quarter. How do I report capital loss? Online reporting does not permit negative numbers. Kindly suggest options. Thank you in advance.