If dividends are paid to a share holder who happens to be a US Citizen, is the dividend amount received taxable for that person in US? I understand that the company has to pay dividend tax in India. I would appreciate any information in this regard.
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Dividends paid to US citizen
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Any income by way of dividend as referred in Section 115-O is exempt for all Individuals irrespective of their residential status.
Section 115-O dividend means Dividends on which dividend Distribution Tax is paid by the Company.
So it's exempt income.
Please refer Section 10(34)
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