shantilal jain (CHARTERED ACCOUTANTS) (29 Points)
05 June 2011WHETHER DIVIDEND RECEIVED IN INDIA FROM FOREIGN COMPANY BY NON RESIDENT INDIANS IS TAXABLE IN INDIA OR NOT ? IF YES THEN UNDER WHICH SECTION ?
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 05 June 2011
If the dividend is recieved in India by NRI in india n irrespestive of indian /foriegn co from whom NRI has recieved and if that foriegn company has paid DIVIDEND DISTRIUTION TAX U/S 115-O then such div is not taxable in d hands of NRI shareholders.
Otherwise its taxable by virtue of Sec 9.
Comments of other Members are also welcomed.
Correct me if i am wrong.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 20 July 2011
| Originally posted by : shantilal jain | ||
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WHETHER DIVIDEND RECEIVED IN INDIA FROM FOREIGN COMPANY BY NON RESIDENT INDIANS IS TAXABLE IN INDIA OR NOT ? IF YES THEN UNDER WHICH SECTION ? |
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I understand the question is about receipt of dividend by NRI in his bank account in India from foreign company by a non-resident .Ideally the same should not be taxable in India but the ITO may try to tax the same under sec. 5 on receipt basis which provides that any income of non-resident which "is received or is deemed to be received in India in such year by or on behalf of such person ;.
In my view dividend accrues or arises at the place where the dividend is declared or the Company declaring dividend is situated, therefore in present case it should not be taxable in India.
Anuj
+91-9810106211
femaquery @ gmail.com
abhishek
(engineer)
(27 Points)
Replied 20 July 2011
which ito challan is required for paying the online e tax payment for the interest on saving account is it 280 or 282?
if one have paid the tax on saving interest tax on wrong challan no ie "ito 282" under interest tax (24) under self assesement (300) by epayment than how it can be rectified if it is wrong and it has to be done on ito 280. challan?
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