Dividend report shows which company pays you dividends. Groww is now officially India’s top broker in terms of user base.
Groww was started with a motive of investement made simple to everyone. Groww has a tagline of, ” invest karo groww karo”.
What is a Dividend Report ?
Dividend Report is a report that shows how many companies paid you dividend with amount, date, and time. Groww shows you the dividends report by financial year.
Suppose you want to download the report for the financial year 2023-2024 then you can download it, but if you want it only for one month of time period also you can download it from the application.
This report helps you to understand how much you received in dividend income. It helps in filing income tax returns.
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Which Brokers Show Dividend Reports ?
Currently, only Groww and Zerodha Broker gave this dividend report to investors. Angel One and Upstox have not added this feature to their application.
Why other brokers don’t give dividend reports ? there are many reasons one of them is they don’t understand this as a problem, second is they focus on their marketing.
When multiple dividend amount is received in the bank account then it is very hard to get their details from the bank statement at the time of ITR filing. Groww saves time for investors by adding new features.
Steps To Download Dividend Report
Click the open reports button on top of the menu when you open the app, and then you will get three sub heading that are tax filing, mutual fund and last is stocks.
In tax filing Tax proof, capital gains for mutual funds and stocks, groww balance statement, and last GST invoice.
In mutual funds order history. Stocks have profit and loss statements, contract notes, demat reports, CMR copy, and Dividend Reports.
After you click on dividend report they show to choose date from-to. Generally, if you select from April to March then you get year-wise data.
What To Do When You Didn’t Receive Dividends ?
Contact the company and tell them about your problem that you didn’t get the dividend. If your company wouldn’t help you then directly contact your RTA. They transfer your dividend amount into a bank account. Every company has an RTA.
In India there are two RTAs first is Kfin Tech and CAMS. They both are listed in the stock market and give multi-bagger returns to their investors.
Kindly submit your issue form and you will get your solution within one day.
Can We Retire on Dividend Income ?
Yes, but that depends on the invested amount and it varies from company to company. Suppose you invest in large cap fundamentally strong company then yes it is possible because they provide you stable income.
In small-cap stocks case, they are in the growth phase so they don’t give stable dividends to investors if they grow in size so it is possible.
How Much Amount Require to Get Retire
Minimum investment of 1 Crores because it will generate $1,000 per month income. You can start from 10 lakhs also but hard to get that much amount and requires more time to retire.