Today news
About the same in other media
Getting dividend as regular income? Beware! You have to pay tax and reveal it in ITR this year
Reading now: 725
While investing in mutual fund (MF) schemes, many people opt for the dividend payout option to get regular income while staying invested. People investing in direct equities also enjoy dividend income, depending on the quantum of profit earned by the companies.
Till the financial year (FY) 2019-20, companies and fund houses used to pay Dividend Distribution Tax (DDT) before distributing the dividend, while the dividend amounts received were tax-free in the hands of investors.
So, irrespective of their tax bracket, investors used to enjoy the same tax treatment.
However, things have changed now after the abolition of DDT, making dividend income taxable in the hands of investors.
“Finance Act, 2020 amended the provisions relating to taxation of
Read more on financialexpress.comAbout this in other media
Your Queries (Loans): You can avail tax deduction for interest paid on education loan financialexpress.com /2 years ago
Exclusive: oil companies’ profits soared to $174bn this year as US gas prices rose theguardian.com /2 years ago
Top 7 cities see over 1,757 acres land deals in a year – 69% for residential development financialexpress.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
