RESIDENT SHAREHOLDERS
Tax will be deducted at source under Section 194 of the IT Act at the rate of 10% on the amount of dividend paid by the company for FY 2022-23, if PAN is provided by the Member. If PAN is not submitted/is inoperative/is invalid, TDS would be deducted @ 20%.
Investor has to link Aadhaar number with PAN as required ,If any PAN is found to have not been linked with Aadhaar within the stipulated timeline prescribed by the Government, then such PAN shall be deemed inoperative, and TDS will be deducted at higher rate under Section 206AA of the IT Act.
In the case of resident individuals, TDS would not apply if the aggregate of total dividend distributed or paid for FY 2022-23 does not exceed Rs. 5,000.
Further, TDS will not be deducted in cases where a shareholder provides a written declaration in prescribed Form 15G / Form 15H, along with a self-attested copy of PAN, subject to eligibility conditions being met as per provisions of the IT Act.
Disclaimer: – Mutual funds investments are subject to market risk. Please read the offer documents carefully before investing.
