Have a question regarding dividend income received from Australian companies by Indian resident.
Very much appreciate your help.
(Australian compaines attach Franking credits to Dividends paid to shareholders. Franking Credits are tax paid by companies similar to Dividend Distribution Tax in India. Dividends and Franking credits are included in the Australian tax returns to calculate tax liability for individuals.)
For a resident Indian taxpayer, where should such Dividend be included in the tax return ?
Dividends are exempt from taxable income - so should that be in exempt income section
or
should that be part of other income and the franking credits used to claim tax paid against DTAA?
Thanks.
-Ram