Akshata Murthy’s non-domicile status became the talk of the town when Rishi Sunak first entered the race to become the UK PM in April this year.
The non-domicile status of Akshata Murthy became a point of discussion in the UK when Rishi Sunak first entered the race to become the UK PM in April this year.
akshata idol, Incoming Prime Minister of Britain Rishi SunkiHis wife, whose tax status on income from outside the UK sparked controversy, earned ₹126.61 crore ($15.3 million) in dividend income in 2022 from her stake in Infosys, India’s second largest IT firm.
Ms. Murthy, daughter of Narayan Murthy, co-founder of InfosysAccording to the company’s filings with the stock exchanges, Infosys held 3.89 crore shares or 0.93% at the end of September.
Its holding is ₹5,956 crore (approximately $721 million) at Tuesday’s trading price of ₹1,527.40 on BSE.
Infosys on May 31 this year paid a final dividend of ₹16 per share for the financial year 2021-22. For the current year, according to the company’s stock exchange filings, this month the firm declared an interim dividend of ₹16.5.
The two dividends totaled ₹32.5 per share or ₹126.61 crore for Ms. Murthy.
Infosys is one of the best dividend paying companies in India. In 2021, it paid a total dividend of ₹30 per share, giving Ms. Murthy a total of ₹119.5 crore in that calendar year.
Mr. Sunak, 42, on Sunday Won the race to lead the Conservative Party And now set to become Britain’s first prime minister of Indian origin and its youngest leader in modern times.
While Mr. Sunak is a British national, his wife Ms. Murthy is an Indian citizen. Her non-domicile status, which allows her to earn money abroad without paying taxes for a period of up to 15 years, has been a divisive issue in the UK.
Ms Murthy’s non-domicile status became a point of discussion in Britain when Mr Sunak first entered the race to become prime minister in April this year.
At the time, her spokesperson said that as a citizen of India, she was unable to hold citizenship of any other country and “she has always been and will continue to pay UK taxes on all her UK income.” ”
As the controversy snowballed, he announced at the time that She will pay UK tax on all her worldwide earnings Out of the “British sense of fairness”.
It is not known how much taxes it has paid in the UK on dividend income earned after April – ₹16 per share final dividend for the 2021-22 financial year (April 2021 to March 2022) paid on May 31, 2022 , and ₹16.5 a share interim dividend for the financial year 2022-23 which is to be paid on 27 October.
met the craze at Stanford
Born in her mother Sudha Murthy’s hometown in Hubballi, northern Karnataka, Ms. Murthy did her schooling in Bengaluru, then went to Claremont McKenna College in California, where she doubled up in economics and French.
She did a fashion designing diploma from the Fashion Institute of Design and Merchandising in Los Angeles, followed by a short stint at Deloitte and Unilever.
She then went on to pursue an MBA at Stanford where she met Rishi Sunak.
Both got married in 2009. The couple, who have a huge real estate portfolio, have two children, Krishna and Anushka.
They live in a £7 million townhouse in Kensington. He also owns a flat in Kensington, a mansion in Mr Sunak’s Yorkshire constituency and a penthouse in California.
Read also | Better to lose than win on false promises: Rishi Sunki
The son of a pharmacist mother and doctor father, Mr Sunak was educated at one of the most famous schools in England, Winchester and then Oxford. He spent three years at Goldman Sachs Group Inc. and later did his MBA from Stanford, California.
According to the Infosys filing, the promoters hold 13.11 per cent stake in the company. Of this, the Murthy family holds 3.6% (Narayan Murthy holds 0.40%, his wife Sudha 0.82%, son Rohan 1.45% and daughter Akshata 0.93%).
Other promoters include co-founders S Gopalakrishnan, Nandan M Nilekani and SD Shibulal and their families.