Dividend reporting on quicko

Platforms Tax Filing App
8

Your effective slab rate for business income of 15,00,000 will be 12.5% + HEC (new regime) and 17.5% + HEC (old regime). Hope this resolves your query @Girimon_Vasudevan
For your STCG, you are right, you’ll be paying a flat tax of 15%+ HEC.

9

Thanks. Is HEC taken care of in the QUICKO calculation? Or do we have to add on?

10

Hi @Girimon_Vasudevan, our system incorporates HEC automatically during the tax calculations.
Let me know if you need any further assistance, would love to help out. :blush:

11

Hi
Two more question…:smile:

  1. Regarding tax loss harvesting, since we pay advance tax by 15th March, what ever harvesting we do post that date can only be claimed as refund while filing our ITR. Please correct me if I am wrong.

  2. Last date for payment of advance tax is 15 Mar.
    When do you pay the advance tax for gains realised between 15 & 31 March?

Thanks

12

Hi @Girimon_Vasudevan, questions are always welcome. :smiley:

  1. Right, it can only be claimed as refund while filing the ITR.

  2. You will need to pay Self-Assessment Tax after 31st March.

13

Hi
Can I do tax loss harvesting on 31st March by selling my STCL stocks? Will it be considered for this FY or next?
Thanks

14

Hi @Girimon_Vasudevan, yes today being the last day of the financial year, you can still sell your STCL stocks for tax loss harvesting purposes. The same shall be considered for this FY 21-22.
Always happy to help. :blush:

15

2 posts were merged into an existing topic: STCG and LTCG Taxation

17

I believe there is a bug in your system. 194k dividend income picked up from my 26AS get parsed file but while filing I get a validation error saying income not reported but tax credited and there is no way to proceed with the filing. I have already opened a ticket. Can this be fixed before the deadline?

18

Hey,

TDS is already deducted from my dividend income. So while filing tax in quicko I need to enter the amount which I received in the bank after TDS deduction or do I need to enter the amount received in the bank + TDS?

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Hey @Shrutika_Shah , can you take a look at this?

20

The actual bug is in populating the TAX credit form. The 194k entry in 26AS is parsed but the drop down is set to capital gains instead of other income. The form and review sheets all look good but validation fails just before e-file and the warning does not show where to fix it. It took me a while to figure this out and manually change the drop down and then it validated. Request you to fix it for others. Its not much work

21

tagging @Sreetama_Chakraborty

22

Hey,

TDS is already deducted from my dividend income. So while filing tax in quicko I need to enter the amount which I received in the bank after TDS deduction or do I need to enter the amount received in the bank + TDS?

23

Hey, while reporting your dividend income under IFOS, you need to enter the gross amount i.e amount in bank + TDS and claim tax credit for the same. Hope this helps

1 Like
24

Sure, we have taken note of your feedback. If you face any further issues, write to us at help@quicko.com

25

On signin with aadhar otp, all bank interest income is in prefill data. When it comes to dividends, prefill data is showing the correct "total dividend credit 'but asking break up with date. ( I go by ais only as form26as reported only half the dividend)

Do i have to add one by all companies - dividends received?
Date means transay date or booking date by the dividend payee?

26

Hey, you need to add report your dividend income in terms of the transaction date. Hope this helps

27

Where do we add dividends from equity mutual funds. I see when I add in dividend income it gets directed added to my taxable income.

28

Hey, you need to report your dividend income under the dividend category itself. Since your dividend income is taxable, it is getting added to your taxable income. If TDS has been deducted from your dividend, you will be able to claim tax credits.

Hope this helps