.png)
.png)
Availability of tax reliefs on Indian investments.
We act for a client who has been resident in the UK for the past 50 years after moving from India. She has received dividend income and interest from a portfolio of investments managed by HSBC in India (all income has been declared in rupees). She is domiciled in the UK.
Indian tax returns have been submitted in respect of her Indian income. As far as we are aware there is no tax on dividend income in India.
We had thought that because no tax had been paid in India on the dividend income no double tax relief would be available. But having read the reply to the query ‘Crore values’ (see Taxation 29 February 2012) it seems that tax sparing relief may be available. Is this still correct and likely to apply in this case?
I look forward to hearing from Taxation readers.
Query 19 022 –...
