A theory of dielectric relaxation in nematics is developed for a molecular dipole moment directed at an arbitrary angle to the molecular long axis. Both exact and simple approximate analytical formulae for the longitudinal and transverse components of the complex dielectric permittivity tensor are obtained for the non-inertial rotational Brownian motion of a molecule in the mean field potential of Maier and Saupe. It appears that both longitudinal and transverse relaxation processes are effectively described by two Debye type mechanisms with corresponding relaxation times and dielectric strengths expressed in terms of the order parameter. The generalization of the theory for an arbitrary axially symmetric mean field potential is given.