Dividend received from shares and MF is taxable; Here’s how to reduce your tax outgo from dividend income in your ITR

Dividend from shares and mutual fund: You have to pay income tax on all dividend received, however there is a way using which you can reduce the net tax outgo on dividend income. "Only interest expenses are allowed as a deduction from dividend income," says Neeraj Agarwala, Partner, Nangia & Co LLP.