I recieved some dividend amount from Ashok Leyland last year. The dividend was declared on 25th Mar 2023 but it was paid to my account on 18th Apr 2024.
Since the declration was on last financial year but I received the amount in my bank in new financial year, am I liable to pay taxes on this amount. ?
P.S My 26AS shows an entry with this amount and also on income tax portal this amount is prefetched for tax payments
I think when recieve in bank that year. check zerodha divident report for particular year.
I have the same doubt regarding Ashok Leyland,
zerodha’s TAX P&L statement is not counting in the payment that was done in april 2024. but the income websites/AIS forms are capturing as march 2024 entries.
this is a bit confusing, how are we supposed to pay some tax for a year if we haven’t received the amount in that year in the first place?
Any suggestions ?
Hey @100rabh,
If the Form 26AS reflects such income in March, then it should be reported in the ITR for last financial year.
As per FAQ emailed by Ashok Leyland, it is up to us to declare in FY24 or FY25 by making appropriate disclosure in ITR.
128964_FAQs-TDS_related.pdf (82.2 KB)
Hey @vivek7 - this is quite useful, thanks. Where did you find this official document from Ashok Leyland?
Received by email alongwith AGM Notice and annual report.
@Quicko I am getting following error during filing of ITR 3 - “Kindly ensure that dividend income mentioned in schedule OS or schedule EI should be equal to dividend income reduced from Schedule BP.”
I am filling with maintaining books of accounts and I am considering dividend income as part of investment and not as a part of f&o business so why would I show dividend income in p&l and schedule BP. I have mentioned dividend income in schedule OS.kindly share your thoughts on this error.
Hey @aashutoshg2007,
We’ll have to get this checked. Can you please drop us an email at [email protected] from your registered ID so we can take this further.
