Normal tax slab and deduction applicable on dividend income?

Forums Deductions Normal tax slab and deduction applicable on dividend income?

Normal tax slab and deduction applicable on dividend income?

I have Rs. 11,00,000 Lac dividend income and no other income. Can I applicable for normal slab rate and can I apply 80C deduction.

Profile photo of Amol Asked By: Amol 2 replies 1 helpful answers Last Updated: 1 month, 2 weeks ago
  • Profile photo of AmolAmol
    Participant

    I have Rs. 11,00,000 Lac dividend income and no other income. Can I applicable for normal slab rate and can I apply 80C deduction.

  • Profile photo of Roohi RasheedRoohi Rasheed
    Moderator

    As per sec. 115 BBDA sub. sec. (2), You will not be able to adjust/ deduct 80C investment against the dividend income exceeding Rs. 10L .

  • Profile photo of shreenairshreenair
    Participant

    Dividend income received from a foreign company is however added to the total income of the assessee under the head “Income from Other Sources” and chargeable to tax at the respective slab rate applicable to the assessee. However, in case of an assessee being a domestic Company, foreign dividend is chargeable to tax at a concessional rate of flat 15% (plus applicable surcharge and cess) under section 115BBD provided the domestic or https://mathway.vip/ Indian company holds more than 26% of the nominal equity capital of the said foreign company. https://facebooklite.vip/ It should be noted that the flat rate shall be applied on the gross value of the dividend received and no deduction of expenditure in respect to such dividend shall be allowed. https://cleanmaster.me/

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