India DTAA rates for NRIs, by country
The maximum tax India may deduct on interest and dividends paid to residents of each country, under its tax treaty with India.
| Country | Interest | Dividends |
|---|---|---|
| Australia | 15% | 15% |
| Canada | 15% (no reduced bank rate; interest on certain Export Development Corporation / Exim Bank loans and government interest exempt) | 15% if the beneficial owner is a company controlling at least 10% of voting power; 25% in other cases |
| Germany | 10% | 10% |
| Kuwait | 10% | 10% |
| New Zealand | 10% | 15% |
| Oman | 10% | 10% if the beneficial owner is a company holding at least 10% of shares; 12.5% in other cases |
| Qatar | 10% | 5% if the beneficial owner is a company holding at least 10% of shares; 10% in other cases |
| Saudi Arabia | 10% (income from debt-claims) | 5% |
| Singapore | 10% if loan granted by a bank or similar financial institution (incl. insurance company); 15% in other cases | 10% if the beneficial owner is a company holding at least 25% of shares; 15% in other cases |
| United Arab Emirates | 5% if loan granted by a bank or similar financial institution; 12.5% in other cases | 10% |
| United Kingdom | 10% if paid to a bank; 15% in other cases | 10% (15% for dividends paid out of immovable-property income by a tax-exempt investment vehicle) |
| United States | 10% if loan granted by a bank or similar financial institution (incl. insurance company); 15% in other cases | 15% if the beneficial owner is a company holding at least 10% of voting stock; 25% in other cases |
India's normal rates for non-residents are 30% on NRO interest and 20% on dividends, plus surcharge and cess. To get the lower treaty rate you need a tax residency certificate and the Form 41 declaration.