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13.12 - 04:25
ITR Filing: Taxpayers now need to give a quarter-wise breakup of dividend income – Here’s why
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In terms of the present Assessment Year of Income Tax Returns Filing, i.e AY22, several changes have been made. And, one such major change among others is reporting of dividend income. In case a taxpayer has dividend income in the last financial year, then he/she is required to take note of the following changes in order to ensure error-free filing of Income Tax Returns.
Prior to the Financial Year FY21, dividend income up to Rs 10 lakh in a particular year was not taxable for the taxpayers as organisations needed to pay a Dividend Distribution Tax (DDT) before making dividend payments. However, those who received dividends of more than Rs 10 lakh used to pay only 10% tax on the dividend payout.
With effect from FY21, however, the government
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