Budget 2021: Tax Deduction On Dividend Paid By Any Mode Other Than Cash - LiveNews360
  • Terms And Conditions
  • Privacy Policy
  • About US
  • Contact Us
LiveNews360
Sunday, March 7, 2021
  • Home
  • Coronavirus
  • News
  • World
  • Business
    • Startup
  • Tech
    • Apps
    • Gadget
    • Mobile
    • Gaming
    • Review
  • Politics
  • Sports
  • Science
    • Health
  • Lifestyle
    • Fashion
    • Food
    • Travel
  • Entertainment
    • Movie
    • Music
No Result
View All Result
  • Home
  • Coronavirus
  • News
  • World
  • Business
    • Startup
  • Tech
    • Apps
    • Gadget
    • Mobile
    • Gaming
    • Review
  • Politics
  • Sports
  • Science
    • Health
  • Lifestyle
    • Fashion
    • Food
    • Travel
  • Entertainment
    • Movie
    • Music
No Result
View All Result
LiveNews360
No Result
View All Result
Home News Business

Budget 2021: Tax Deduction On Dividend Paid By Any Mode Other Than Cash

admin by admin
January 15, 2021
in Business
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


Bad money owed written off from the books of account is permitted as a deduction from the taxable earnings.

Tax deduction from dividends is necessary for each Indian firm or an organization that declares and makes cost of dividends inside India.

However, no tax shall be deducted from the cost of dividend to a person shareholder, ought to the cost be made by any mode apart from money and the mixture quantity of dividend paid or distributed to him throughout a monetary yr doesn’t exceed Rs 5,000.

According to on-line tax consultancy Taxmann, the relief from the deduction of tax is out there if the dividend is paid by any mode apart from money.

Taxmann’s advice is that like different provisions, Section 194 ought to have the optimistic checklist of the permissible mode of cost, that’s, an account payee cheque or account payee financial institution draft or use of digital clearing system by a checking account or by such different digital mode as could also be required.

The same modification can also be advisable in Sections 80D, 80GGA, 80G and 36(1)(ib).

Bad money owed needs to be deductible underneath part 57

Newsbeep

The unhealthy money owed written off from the books of account is permitted as a deduction from the earnings taxable underneath the top ‘Profits and Gains from Business or Profession’. Whereas on the counterpart such a declare isn’t allowable whereas computing the earnings underneath the top ‘Income from different sources’.

According to Taxmann, the deductions allowable from the residuary earnings is laid out in part 57.

Taxmann’s suggestions for the Union Budget 2021

“Income from other sources is a residuary head of income and sweeps in all such taxable incomes which fall outside the other four heads of income. Section 57 specifically provides the list of expenditure which are allowed to be deducted from the income taxable under the head of other sources. Such discriminatory provision causes hardships to the assessee. Thus, it is recommended that deduction for bad debts shall be allowed under section 57 while computing the income from other sources,” Taxmann notes.



Image /Information Credits

Tags: budget 2021Budget 2021-22Dividend Tax Cut
Previous Post

Sune Luus To Lead South Africa Women As ODI, T20I Squads Announced For Pakistan Series | Cricket News

Next Post

Sincere, Outdoorsy, Trippy, a Music Festival Breathes Los Angeles

admin

admin

Next Post
15wildup1 facebookJumbo

Sincere, Outdoorsy, Trippy, a Music Festival Breathes Los Angeles

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
03ariana review1 facebookJumbo v2

On Ariana Grande’s ‘Positions,’ Intimacy Is a Topic and an Aesthetic

November 4, 2020
goi9o94o hong kong exchange

Here’s Everything You Need to Know About Ant Group’s Pulled IPO

November 4, 2020
04VIRUS MINK facebookJumbo

Denmark Will Kill All Farmed Mink, Citing Coronavirus Infections

November 4, 2020
NDTV News

Canada Reports Rare Strain Of Swine Flu Found In A Human

November 5, 2020
6emina5 rishabh pant

India vs England 2nd Test Live Cricket Score: Rishabh Pant Key As India Look To Extend Advantage In Chennai | Cricket News

3
NDTV News

Trump Impeachement Result A ”Vote Of Infamy In US History”: Democrats

3
d1g7u8r8 hair care tips for

7 Worst Foods That Could Cause Hair Loss- Expert Reveals

2
amazfit gts 2 1608980398085

Amazfit GTS 2 mini Is Up for Pre-Orders Priced at Rs. 6,999

2
NDTV News

Pope, Top Shiite Cleric Plead For “Peace” In Historic Iraq Encounter

March 7, 2021
729f99ab5a2db39236525e0db60977ac original

‘Govt Ready To Amend Agri Laws’: Tomar As Farmers’ Protest Completes 100 Days

March 7, 2021
merlin 179947431 c1e73e03 3d4f 42b1 94b8 60a8692adc89 facebookJumbo

For Planet Earth, No Tourism is a Curse and a Blessing

March 7, 2021
merlin 184582785 a54f06d4 033b 4263 a6ca fae8448a6682 facebookJumbo

In Hawaii, Reimagining Tourism for a Post-Pandemic World

March 7, 2021

Recent News

NDTV News

Pope, Top Shiite Cleric Plead For “Peace” In Historic Iraq Encounter

March 7, 2021
729f99ab5a2db39236525e0db60977ac original

‘Govt Ready To Amend Agri Laws’: Tomar As Farmers’ Protest Completes 100 Days

March 7, 2021
merlin 179947431 c1e73e03 3d4f 42b1 94b8 60a8692adc89 facebookJumbo

For Planet Earth, No Tourism is a Curse and a Blessing

March 7, 2021
merlin 184582785 a54f06d4 033b 4263 a6ca fae8448a6682 facebookJumbo

In Hawaii, Reimagining Tourism for a Post-Pandemic World

March 7, 2021
LiveNews360

India's Leading News Website.....We Deal With Most Of The Trending Topics And Provide You Best Information At Ease

Browse by Category

  • Apps
  • Business
  • Coronavirus
  • Fashion
  • Gadget
  • Gaming
  • Health
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Politics
  • Review
  • Science
  • Sports
  • Tech
  • Travel
  • World

Recent News

NDTV News

Pope, Top Shiite Cleric Plead For “Peace” In Historic Iraq Encounter

March 7, 2021
729f99ab5a2db39236525e0db60977ac original

‘Govt Ready To Amend Agri Laws’: Tomar As Farmers’ Protest Completes 100 Days

March 7, 2021
  • Terms And Conditions
  • Privacy Policy
  • About US
  • Contact Us

© 2020 LiveNews360 - One Of The Leading News Website.

No Result
View All Result
  • Home
  • Coronavirus
  • News
  • World
  • Business
    • Startup
  • Tech
    • Apps
    • Gadget
    • Mobile
    • Gaming
    • Review
  • Politics
  • Sports
  • Science
    • Health
  • Lifestyle
    • Fashion
    • Food
    • Travel
  • Entertainment
    • Movie
    • Music

© 2020 LiveNews360 - One Of The Leading News Website.