I have received dividend on my US stock holdings. Tax of @ 30% is already cut at source in US on this dividend. Do I need to pay tax on this again in India by showing this as taxable dividend income in my ITR?
hpalande (12 Points)
06 May 2016I have received dividend on my US stock holdings. Tax of @ 30% is already cut at source in US on this dividend. Do I need to pay tax on this again in India by showing this as taxable dividend income in my ITR?
Anubhav
(Chartered Accountant)
(429 Points)
Replied 09 May 2016
Hi,
For this first of we need to check your residential status in India. If your global inome is taxable in India, we need to work out the relief of taxes paid in US on your dividend income, eligibale as per Indo-US treaty.
In case of any further query feel free to contact:
anubhav.jain @ skparekh.com
Anubhav Jain
SKP - Direct Tax
( The views expressed are in the sole discretion of the author, and the organization and the author holds no liability for any views expressed)
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