Individual tax on foreign dividend income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 May 2013
Hi,
I am a resident income. I work in a software company as Manager and have total salary income of INR400000/-. I hold some shares of a company in Singapore. For FY 2012-2013 I received a dividend payment of INR65000/- from that company, in February 2013.
Do I need to pay tax on this dividend income? If yes, at what rate?
Please help.
I am a resident income. I work in a software company as Manager and have total salary income of INR400000/-. I hold some shares of a company in Singapore. For FY 2012-2013 I received a dividend payment of INR65000/- from that company, in February 2013.
Do I need to pay tax on this dividend income? If yes, at what rate?
Please help.
CA.Sourabh Sethia
(Expert)
03 May 2013
Yes if the dividend is received from Foreign Co. then you need to pay tax
The tax rate is normal rate applicable to you
i.e since your Salary Income is Rs.400000/-
and Dividend Income is Rs.65000/- (taxable under the head Other Sources)
without considering Deductions & Exempions
your tax on total Income of Rs.465000/- would be
Rs.27295/- (including Cess & SHEC)
The tax rate is normal rate applicable to you
i.e since your Salary Income is Rs.400000/-
and Dividend Income is Rs.65000/- (taxable under the head Other Sources)
without considering Deductions & Exempions
your tax on total Income of Rs.465000/- would be
Rs.27295/- (including Cess & SHEC)
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