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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