Daily Tax Report ®

India Customs Agency Clarifies Dividend Distribution Tax

Dec. 4, 2019, 7:58 PM

The Indian Central Board of Direct Taxes Aug. 4 issued updated guidance for the domestic company dividend distribution tax. The guidance clarified: 1) the general 15 percent dividend distribution tax rate; 2) the 30 percent tax rate for distributions to shareholders made as advances or loans but deemed to be dividends; and 3) that dividends received from a domestic company are not taxable in the hands of a shareholder. [India, Central Board of Direct Taxes, 08/04/19]

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