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of <h1>Finance Bill 2022 to End 15% Concessional Tax on Foreign Dividends for Indian Companies from April 2023.</h1> The Finance Bill, 2022 proposes to amend Section 115BBD of the Income Tax Act, which currently offers a 15% concessional tax rate on dividends received by an Indian company from a foreign company where it holds at least 26% equity. This amendment aims to align the tax treatment of dividends from foreign and domestic companies following the abolition of the dividend distribution tax under Section 115-O by the Finance Act, 2020. The concessional rate will no longer apply from the assessment year beginning April 1, 2023, affecting tax assessments from 2023-24 onwards.
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