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of <h1>Indian Tax Circular: UK Dividends to Be Taxed as Gross Income for Indian Shareholders, Aligns with Supreme Court Ruling.</h1> The circular addresses the taxation of dividends received from the United Kingdom by Indian shareholders. It clarifies that, for the purposes of the Indian Income-tax Act, the gross amount of dividends paid by UK companies after April 5, 1965, should be considered the income of Indian shareholders, not the net amount. This interpretation aligns with the Supreme Court's decision in a related case, which treated dividends as franked income, meaning they had already been taxed at the source in the UK. The circular also notes changes in UK tax laws post-1965, which further support this interpretation.
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