Dividends

Filing of return is a proof that You have shown correctly your income in case any future Income Tax query is raised you can show your returns filed.

If you are not having any other taxable income then there is no need to file Tax Returns as Dividend income is exempted

Dear Sir,

No need to file income tax return. Since return is only mandatory as of now if there is any taxable income

Dear Sir,

It is not mandatory to file ITR in this case but it's is strongly recommend to file ITR.

Because it will help you in future to justify the source of income.

Please feel free to call/revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Com

Dear sir,

For this you need to understand two concepts:-

1. Every person Having Gross total income (GTI) More than Exemption limit is required to File ITR.

(at present exemption limit is Rs.2,50,000)

*GTI is the income calculated before any deduction u/s 80c to 80u.

2. u/s 10(34) of IT Act 1961, any income received by the assesse in the way of dividend from an Indian Company who is liable to dividend distribution tax, then such income from dividend is exempt. Which means all the income received by you from your investment in shares in different companies in India by way of dividend is tax free if those company are liable to dividend distribution tax. All listed companies are liable to DDT.

Conclusion:-

Since in your case , your gross Total income Is ‘NIL’ , As your income from dividend is exempted u/s 10(34) of IT act 1961. You are not required to file ITR.

For any clarification feel free to contact us at ca.skagarwal@gmail.com

Call at: 07503638500

Thanks Regards

CA SK Agarwal

7503638500

Hi,

It is always better to file IT return even for exempt income by mentioning the exempt income under exempt income column,so that if in case there is any query or scrutiny you have documentary proof to show that .

Hi

It is not mandatory for you to file a return of income.

Regards

Keerthiga Padmanabhan

Hi,

If the Income consists of only Exempt Income, then there is no need to file IT Returns

Hello Sir,

It is not mandatory but yes it is advisable to file your income tax returns in order to avoid further complications.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP