Is dividend income accrued from shares to a non-resident Indian taxable? —Name withheld on requestEffective FY21 and onwards, any dividend income from shares of an Indian company is taxable in India. Thus, the applicable tax rate on dividend income for a ‘non-resident’ ranges between 20.8% and 28.5% depending on the level of total income and surcharge. In case of a shareholder qualifying as a ‘resident’ in India, dividend income is taxable at applicable slab rates. —Name withheld on requestUnder the Indian income tax law, an individual is required to file an income tax return if the gross taxable income exceeds the maximum amount not chargeable to income tax.

Source: Mint May 24, 2021 16:52 UTC