If I have dividend income from shares of foreign companies and tax is already paid in the source country, how can I avoid paying double tax? Is there an option to use DTAA in Quicko?
Also, would the financial year be considered as per the source country?
Hello @shub !
Dividend received from foreign company is taxable under the head ‘Income from other sources’ and is taxable as per your tax slab. However, if the tax has been paid by you on the dividend income received from the shares of foreign company in the source country, you can claim the benefit of the tax paid if the same is allowed as per the DTAA Agreement of the respective country by claiming the relief of taxes paid outside India u/s 90 or u/s 91 if no such agreement exists. You can read more about this from this article
Also, enabling the DTAA option is in our pipeline, we will roll out this feature soon in Quicko.
Moreover, the financial year would not be considered as per source country.
Hope this helps!