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dividend from foreign co.

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student
74 Points Posted on 17 November 2008
Dividend from Indian co. is exempt from income tax in India. But what will be tax treatment if a person earn a dividend from a foreign co. in foll. cases:- 1. His residential status is resident in India. 2. His residential status is resident but not ordinary resident
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On 17 November 2008 at 14:40 Report
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Service
156 Points Posted on 17 November 2008

In both the cases it will be taxable as Income From Other Sources....

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On 17 November 2008 at 14:50
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student
74 Points Posted on 17 November 2008
Thanx for reply... But what if any tax is already paid by the assessee on the same income in foreign country. Will he get credit of this while paying tax in India??
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On 17 November 2008 at 14:54
Guest

Good Question but as I thought he is liable to pay because he uses both the country for getting something. Therefore he is liable to pay tax
 

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On 17 November 2008 at 15:05
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PRACTISING CA
4283 Points Posted on 17 November 2008

It is taxable under the head income from other sources.

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On 17 November 2008 at 15:05


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