Is there any exemption limit on the taxable interest earned on bank FDs? Alternatively, a deduction under Section 80TTA may be available up to ₹10,000 on the interest earned from savings bank accounts. Effective FY21 and onwards, any dividend income from shares of an Indian company is taxable in India. If a shareholder qualifies as a ‘non-resident’ in India under the India income tax law, the dividend income is taxable at 20% plus applicable surcharge and 4% health and education cess on gross basis. Thus, the dividend income earned by your son in India will be taxable in India at 20% plus applicable surcharge and 4% health and education cess on gross basis.

Source: Mint July 19, 2021 20:03 UTC