1. Heads of Revenue
The Revenue Department divides revenue into five main revenue categories for the purpose of reporting income: Income from Salary Revenue from House Property Revenue from Capital Gains / Loss Income From Business And Work Revenue From Other Sources Revenue from Other Sources includes income that does not fall below any other revenue head.
Frequently Asked Questions
I made a profit from an Indian company this year. Is this taxable as income from other sources?
Yes, dividend income is taxable as "Income from other sources". Government abolished Dividend Distribution Tax (DDT) from FY 2020-21. Therefore, the investor must pay dividend interest tax. A taxpayer can claim interest on up to 20% of dividend income. Taxes will be paid at the normal tax rates applicable to you. Also, if the total share price exceeds Rs 5,000, the company deducts TDS from 10% while paying dividends.
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