Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

Will dividend TDS be refunded if overall is not taxable?

381 views

Save Share

Join Us Follow Us Add as Source

Ram K

120 Points Posted on 05 February 2021

Dear Sir/Madam,

I have received some dividend income which is now taxable and some 7% TDS is already deducted by the company.

However if my total income with all sources considered is less than taxable amount, can I expect refund irrespective of the source of income i.e. even TDS on dividend I believe should get refunded?

Thanks

Replies (4)

Quick Summary

If your total income, after considering all sources and eligible deductions, falls below the taxable threshold, you can indeed claim a refund for any Tax Deducted at Source (TDS), including that on dividends. This means any TDS already paid will be returned to you if your final tax liability is nil or less than the TDS deducted.

CA. Sourav Sarkar

Chartered Accountant

16188 Points Posted on 05 February 2021

You should calculate your total income by giving deductions if any and such tds shall be deducted and if there is balance payable then such amount shall be payable otherwise the excess balance shall be refunded to you

CA Rashmi Gandhi

Chartered Accountant

44487 Points Posted on 05 February 2021

Yes same is available.

sachin sharma

54 Points Posted on 05 February 2021

Yes you will get your refund after filling return on time

Piyush Oswal

30 Points Posted on 05 February 2021

Yes you will get your refund in case your balance tax payable at the time of filing of return is Nil. If not, then you can claim such TDS credit by reducing it from your net tax payable