Domestic Companies Must Levy Dividend Tax on Non-Residents per Income Tax Act, Not DTAA; Refund Claims Denied.

Domestic Companies Must Levy Dividend Tax on Non-Residents per Income Tax Act, Not DTAA; Refund Claims Denied. https://www.taxtmi.com/highlights?id=74727 Taxability of dividends - dividend is declared, distributed or paid by a domestic company to a non-resident shareholder(s) - The Tribunal held that, additional income tax payable by the domestic company shall be at the rate mentioned in Section 115- O of the Act and not at the rate of tax applicable to the non-resident shareholder(s) as specified in the relevant DTAA with reference to such dividend income. - Claim of refund of excess Dividend Distribution Tax (DDT) rejected. en-us Thu, 08 Feb 2024 08:11:58 +0530 Thu, 08 Feb 2024 08:11:58 +0530 TaxTMI RSS Generator Domestic Companies Must Levy Dividend Tax on Non-Residents per Income Tax Act, Not DTAA; Refund Claims Denied. https://www.taxtmi.com/highlights?id=74727 Taxability of dividends - dividend is declared, distributed or paid by a domestic company to a non-resident shareholder(s) - The Tribunal held that, additional income tax payable by the domestic company shall be at the rate mentioned in Section 115- O of the Act and not at the rate of tax applicable to the non-resident shareholder(s) as specified in the relevant DTAA with reference to such dividend income. - Claim of refund of excess Dividend Distribution Tax (DDT) rejected. Highlights Income Tax Thu, 08 Feb 2024 08:11:58 +0530 https://www.taxtmi.com/highlights?id=74727