Received 10% less dividend

General
1

I received 10% less dividend from PFC. Any idea why they have deducted 10% and how to claim that 10%. Thanks in advance.

2

Yes. They have deducted the amount as per the provision of Income Tax.

If the amount being paid exceeds Rs5,000 per year then 10% of the dividend amount being paid is deducted as per the provision of Section 194 of IT Act.

The amount so deducted will be uploaded to your PAN as TDS.
You can adjust that amount to pay the Income Tax due or if you don’t have anything payable it will be refuneded to you after you file your income tax return.

It simply means that they have deducted 10% and paid the same as advance tax in your name.

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3

Thanks a ton @GoutamHebbar :slight_smile:

4

how the adjustment is done ?

We report 100% dividend (tax inclusive) in earnings & then request the 10% tax refund ?

Btw under which heading refund is requested ?

5

Refund if any is displayed after calculation of total income and tax payable thereon.

Only if you have paid excess tax you are eligible for refund.

1 Like
7

in past i used gross diidend value in quicko.

so now i do same & ask for 10% rfund already paid ?

Is there any place to mention or ask while filing ?