Hello,
I am resident of India but I don't have to declare my foreign income as I am on RNOR status.
I am non-resident of USA for the tax year 2024. I didn't spend a single day in USA.
I have some income in USA from the dividends. Do I need to pay 30% tax on this or 25% as per below treaties between India and USA?
The Convention provides maximum rates of tax at source on payments of dividends, interest and
royalties which, in each case, are higher than the rates specified in the United States Model. Dividends
from a subsidiary to a parent corporation are taxable at a maximum rate of 15 percent; other dividends
may be taxable at source at a 25 percent rate.