Individual Tax - DDT Mutual Fund (Non-Equity) Dividends

[Pandu N]

Per new Govt act, from Oc 1, 2014, DDT needs to paid @ 28.33%. More details here. Pls check under non-equity funds (equity fund dividends are tax exempt). Pls look at two tables in Pg# 1 & Pg# 3.

Two questions.

(1) My Mutual Fund company did not do TDS for DDT. It does not show up in Form 26 AS. Which means I need to pay DDT while doing the filing. Question: Where do I declare it? It is taxed @ 28.33% (not 30.33% which is for Short term capital gain tax). For me, the savings are close to ₹ 2k.

(2) Second question: This law is effective Oct 1, 2014. For FY 2014-15, does that mean there are two tax regimes for DDT. One at 22.33% (previous tax rate) and another at 28.33 (existing tax rate)? If yes, again, how do I declare it..

If (2) is not answered it's ok. Requesting answer for (1) atleast.

Thanks

AI Summary

Clarification sought on declaring non-equity mutual fund dividends taxed at 28.33% post-2014 and missing TDS in Form 26AS. An individual inquired about the Dividend Distribution Tax (DDT) for non-equity mutual fund dividends, which, as per a government act effective October 1, 2014, is taxed at 28.33%. The individual noted that their mutual fund company did not deduct tax at source for DDT, and it is not reflected in Form 26AS, raising a question about how to declare it during tax filing. They also queried whether there are two tax regimes for DDT for the fiscal year 2014-15, with previous and current rates at 22.33% and 28.33%, respectively, but prioritized getting an answer to the first question.