if i am a resident in india. I am also a share holder of a uae company and i am getting my share of profit from uae company in india. what is the taxability of that.
if it is taxable can i avoid that ? how?
If you are a resident of India, your global income will be taxed in India whether it is earned in India or outside India subject to DTAA(Double Taxation Avoidance Agreement) with the foreign countries.
The Board in its Circular No. 728, dated 30th October 1995 have already clarified that in case of remittance to a country with which a Double Taxation Avoidance Agreement is in force, tax should be deducted at the rates provided in the Finance Act of the relevant year or at the rates provided in the DTAA, whichever is more beneficial to the assessee.
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