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Tax dividend on an investment made I shares in India or mutual funds, then it will come under the tax obligations because it is subject to pay tax at 20% under chapter VI-A of the investments made in the public provident funds, life insurance, and national pension schemes.
Yes, NRIs need to pay a dividend, which is taxed at 20% along with cess. But on the long-term capital gains, it is taxed at the same rate, which is 12.5% with cess. The difference between dividend tax and the long-term capital gain tax is irt can have a holding period of less than 2 years, while stocks can be held high.
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NRIs holding shares of any FIIs or FPIs then they need to pay 10.4% TDS, and if they have any share holdings of a company, then they have to pay 20.89% TDS up to 1 crore, between 1-10 crore, they need to pay 21.2% TDS, and if the amount is above 10 crore, then they need to pay 21.8% TDS effectively.