TDS on Dividend - Form 15H
From April 2020 onwards companies are required to deduct tax at source if dividend amount exceeds Rs.5000/-. Now companies are asking eligible senior citizens to submit Form 15H. The submission of Form 15H to a number companies will be time consuming and difficult for senior citizens. Companies should be asked to install a system to accept Form 15H electronically/Digitally.
A better alternative would be to allow senior citizen shareholders to submit Form 15H to their Depository Participant (DP) managing their Dmat account. In any case Companies obtain the data of shareholders for dividend payment from DPs. Thus only one Form 15H needs to be submitted.
We request Local Circles to take up this issue with Ministry of Corporate Affairs for early resolution. more
A better alternative would be to allow senior citizen shareholders to submit Form 15H to their Depository Participant (DP) managing their Dmat account. In any case Companies obtain the data of shareholders for dividend payment from DPs. Thus only one Form 15H needs to be submitted.
We request Local Circles to take up this issue with Ministry of Corporate Affairs for early resolution. more
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One form to DP and MF should be taken up with the Finance ministry,which will mitigate the problems of such Sr.Ctzns. more
Jun 25
Now a days we have common KYC system.Similarly Govt can come out with a scheme of common 15 H form for Senior Citizens.So that they can be saved from all this Juggalery of running from pillar to post of all banks,post offices and other agencies.As such income of Senior Citizens is reducing every year by the Govt's policies.They do'nt Senior Citizens to survive peacefully in the fag end of their life.Ultimately all income will be shown when they file their returns.Then why this harrassment? more
Jun 24
I dont understand why this govt is hell bent to trouble senior citizens in all possible ways ? As pointed out by Mr Pande we should submit one form to our DP or MF agent for all shares and funds. more
Jun 23
