India revises tax treaty with France, cuts dividend levy for major investors: Report

India and France revised their tax treaty, reducing dividend tax to 5 percent for French firms with at least 10 percent equity in Indian companies, but raising it to 15 percent for smaller shareholders. India can now tax capital gains from French investors' share sales even if their stake is below 10 percent. The most-favoured-nation clause was removed, ending automatic lower tax claims by France, and follows expanded bilateral trade and defense cooperation.