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dividend from foreign co.
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
Replies (4)
In both the cases it will be taxable as Income From Other Sources....
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??
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
It is taxable under the head income from other sources.
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