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July 2, 2024
Question

Foreign interest, Dividend and capital gains tax paid to India

  • July 2, 2024
  • 1 reply
  • 0 views

Hi:

  • I have paid taxes in India for Dividend income, interest income and capital gains. (The total tax liability from the India Tax return is apportioned to each of these buckets). 
  • An Example Data is per below:
  • Say if I have paid an overall $30 as part of the total India tax return and the total tax paid of $30 can be apportioned as below (Dividend tax = $10, Interest income tax =$15 and Capital gains tax = $5)
  • Where do I need to enter this apportioned tax amount in Turbo Tax that has been already paid to India? 
  • Is it in each of the interest income, Dividend income and capital gain entry screens per below? 

For Example:

Say $160.90 interest income was earned and total tax paid to India (for all income as part of the tax return) = $30 (as shown in the above table), and out of $30 tax paid,  $15 of tax can be apportioned to Interest income of $160.90, then can we enter the information per below?


 

 

 

 

If not, how do we get credit for the taxes paid for each of the income categories to India?

 

Regards,

Girigiri

    1 reply

    rjs
    Employee
    July 2, 2024

    Duplicate question. Please post your question only once.