Pai defends Akshata Murthy, says India collects withholding tax on overseas dividends

Aarin Capital chairman TV Mohandas Pai on Thursday hit back at critics of Akshata Murthy, wife of UK chancellor of exchequer Rishi Sunak, saying she has complied with the withholding tax in India for the dividend income she receives from Infosys.

Murthy owns 0.93% of Infosys shares, and has non-domicile status in the UK.

Pai, a former CFO and director at Infosys, called reports about her owning shares in India and not paying taxes in the UK as lies and sensationalism.

“She has no liability to pay any such tax. But you lie when you say there is no tax, there is a withholding tax in India on dividends paid overseas.,” Pai said, in response to a tweet, defending that she has complied with the law of the land.