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Where to fill bank interest and dividend income in itr 3?

Abhishek (Freelancer) (57 Points)

28 July 2017

Hello,

Can anyone please guide me if I need to show the income from bank interest and dividend in profit and loss section in ITR 3 or just need to show in OS schedule. Actually, the dividend income is exmpted so is it ok to show it in EI schedule and the bank interest in OS schedule(in Gross Interest field)? If I show them in the Profit and Loss section too where these fields also exists, then it seems excel utility is adding bank interest twice to calculate the total income, please guide.

Thanks everyone!

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5 Replies

Studentsca (CA Practice ) (3577 Points)
Replied 28 July 2017

Dividend income would be in Schedule EI and Bank interest would be in Schedule OS.

1 Like

Poltu Ghosh (Job) (1865 Points)
Replied 28 July 2017

Ymif you show the interest income in PL account then you need to reduce it in schedule BP from the profit as per PL account as Income considered under other heads of income. Then show this interest income in schedule OS.

1 Like

Wae Jing Lonthaw (Others) (341 Points)
Replied 29 July 2017

We also needs to show STCG on sale of Equity shares in Schedule CG, what details should be filled?

Like:- Full value of consideration

Cost of acquisition without indexation

Expenditure wholly and exclusively in connection with transfer

Cost of improvement without indexation

Poltu Ghosh (Job) (1865 Points)
Replied 29 July 2017

Same like interest income. Credit the profit figure in PL account , reduce it in schedule BP as Income considered under other heads of income titled Capital Gains and then show it in schedule CG in usual manner