CA Mohamed Asharaf FCA, DISA(ICA)

INCOME TAX ON DIVIDEND IN INDIA Pursuant to the changes introduced by the Finance Act 2020, w.e.f. April 1, 2020, the Company would be required to withhold taxes at prescribed rates on the dividend paid to its shareholders. The withholding tax rate would vary depending on the residential status of the shareholder and the documents submitted by them and accepted by the Company. Resident Shareholder Particulars Applicable Rate Documents Required (if any) With PAN 7.5% * Update the PAN, if not already done. Without PAN/ Invalid PAN 20% Submitting Form 15G/ Form 15H NIL Declaration in Form No.15G (applicable to any person other than a company or a firm)/Form 15H (applicable to an Individual who is 60 years and older), fulfilling certain conditions. Submitting Order under section 197 of the Income Tax Act, 1961 (Act) Rate provided in the Order Lower/NIL withholding ta...