ITR query for salaried person with dividend income < 10k

Taxation
1

Hi,

I am a salaried person who recently started investing. I have invested in few stocks and got dividend (<10k). But not sure which ITR I should file. ( Should I file both ITR1 and ITR2?)

Had checked varsity ( ITR Forms (The Finale) – Varsity by Zerodha ) didn’t get exact answer. So, pinged here

2

I am not a tax expert, but I am good at Googling :slight_smile: . This answer says:

Assuming that you have income only from salary and dividends, you may continue to declare income in ITR-1.

Also, since you mentioned the dividend amount being less than 10k: all dividend income, however small, is now considered as taxable income.

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3

Hi @Gajapathy,

If you have salary and dividend income you need to file ITR 1, and Dividend income falls under the head “Income from other sources”.
In case you have a salary, capital gains, and dividend you need to file ITR 2.

When filing your ITR using Quicko, you don’t have to worry about selecting the ITR form, our algorithms do that automatically based on the income details you enter :wink:

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