Union Budget 2020-21 proposal to deduct 10% TDS on dividend payment..!
After the Union Budget 2020-21 proposal to deduct 10% TDS on dividend payment exceeding Rs. 5.000. NRIs will have a 20% TDS.
Post this proposal, multiple operational issues have cropped up and need to be clarified. For instance, the industry will discuss TDS rate applicable on folios that do not have PAN.
The source said that one of the proposals up for discussion is to levy 20% TDS on folios without PAN.
While investors having folios without PAN are not allowed to redeem their investment, they are eligible to get dividend income, the source said
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