Hello,
I'm an OCI with dividend income in India of ~ INR 225K. To my understanding -
- 100% of this dividend income is taxable @ 20% + cess etc etc.
- I'm not eligible to claim standard deductions.
The question that I have is, can I contribute to ELSS and reduce taxes payable (by opting for the old scheme)?
Thank you for your time.
CAclubindia
