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Taxability of dividends paid to NRIs

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 April 2010 Kindly let me know whether share dividends paid to NRIs are tax free or taxable and also quote the Sec. of Income Tax so that I can take up the issue with my chartered accountant if he is wrong.
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NISHIT A. DOSHI

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NISHIT A. DOSHI (Expert)
23 April 2010 Hi,

The dividend paid by the indian company is not taxable in the hands of its shareholders as the dividend distribution tax is borne by the company.

Relevant section is 115-O of income tax act.

REGARDS,
NISHIT DOSHI
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taxindiaconnect

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taxindiaconnect (Expert)
04 May 2010 Agreed
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