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What is the maximum limit available in respect of dividend under section 194 of the Income Tax Act, 1961, for the assessment year 2018-19 on which no TDS is required to be deducted?

What is the maximum limit available in respect of dividend under section 194 of the Income Tax Act, 1961, for the assessment year 2018-19 on which no TDS is required to be deducted? Correct Answer Rs. 2,500

The correct answer is ₹2,500

Key Points

  •  TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at the source if the payment exceeds certain threshold limits.
  • TDS under section 194: If the amount of dividend exceeds ₹2,500, TDS @10% (20% in case of no valid PAN) is required to be deducted.

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