When an Indian company holds 30% of the nominal value of equity capital of a foreign company, the amount of dividend received from the foreign company in the hands of Indian company is :

CS Executive · Tax Laws and Practice · PYQS · June 2019
When an Indian company holds 30% of the nominal value of equity capital of a foreign company, the amount of dividend received from the foreign company in the hands of Indian company is :
(A) Exempt from Tax
(B) Taxable @ 15%
(C) Taxable @ 10%
(D) Taxable @ 30%

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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