TaxTMI 
TaxTMI 
Reduction in tax rate on certain dividends received from foreign companies - THE FINANCE (No. 2) BILL, 2014
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....eduction in tax rate on certain dividends received from foreign companies - THE FINANCE (No. 2) BILL, 2014 <br>News and Press Release<br>Dated:- 13-7-2014<br><BR>Reduction in tax rate on certain divid....
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....ends received from foreign companies Section 115BBD of the Act was introduced as an incentive for attracting repatriation of income earned by Indian companies from investments made abroad. It provid....
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....es for taxation of gross dividends received by an Indian company from a specified foreign company at the concessional rate of 15 per cent. if such dividend is included in the total income for the asse....
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....ssment year 2012-13 or 2013-14 or 2014-2015. With a view to encourage Indian companies to repatriate foreign dividends into the country, it is proposed to amend the Act to extend the benefit of lowe....
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....r rate of taxation without limiting it to a particular assessment year. Thus, such foreign dividends received in financial year 2014-15 and subsequent financial years shall continue to be taxed at the....
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.... lower rate of 15%. This amendment will take effect from 1st April, 2015 and will, accordingly, apply in relation to the assessment year 2015-16 and subsequent assessment years. [Clause 37]<BR> New....
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....s - Press release - PIB....