Investor Information

• For non-resident shareholders, the rate of withholding tax is 20% (plus applicable Surcharge and Cess).
• However, where a non-resident shareholder is eligible to claim the tax treaty benefit, and the tax rate provided in the respective tax treaty is beneficial to the shareholder, then the rate as per the tax treaty would be applied.
• In order to avail tax treaty benefits, non-resident shareholders would be required to submit the following documents:
  

a. Tax Residency Certificate (TRC) for FY 2020-21. TRC can be obtained from the Revenue / Tax authorities of the country of which the shareholder is resident.

b. Form 10F as per the format specified under Income Tax Act, 1961 available at https://www.incometaxindia.gov.in/forms/income-tax%20rules/103120000000007197.pdf

c. Copy of PAN Card, if available; In absence of PAN, the following information/ document is mandatory: in respect of the non-resident shareholder: i) Name, e-mail id, contact number; ii) Address in the country of residence; iii) Tax Residency Certificate (TRC), if the law of country of residence provides for such certificate; and iv) Tax Identification Number (TIN) in the country of residence. Where TIN is not available, a unique identification number is required to be furnished through which the deductee is identified in the country of residence.

d. Self-declaration inter-alia of beneficial ownership, not having a PE in India, etc.

• Please note that the Company is not obligated to apply the beneficial treaty rates at the time of tax deduction of TDS on dividend. Application of beneficial treaty rate shall depend upon the completeness and satisfactory review by the Company, of the documents submitted by the non- resident shareholder.

• If the documents are not provided or are not complete in order to provide the beneficial treaty rates, then tax will be deducted at 20% plus applicable surcharge and cess.

Rates of TDS (for non-resident individuals, HUF, AOP, BOI) including surcharge and cess are tabulated given below:

Rates of TDS for non-resident companies including surcharge and cess are tabulated given below:

Non-residents who have obtained a certificate under section 197 of the Income-Tax Act: TDS would be done as per the lower or NIL rate that may be mentioned in the certificate under section 197 of the Act. The certificate furnished to the Company should specifically mention the nature of income as dividend, amount expected and the payer as NIIT Limited.

• All of the documents duly signed/certified should be sent on/before September 10, 2020 to Company and/or its Registrar & Share Transfer Agent:
   - NIIT Limited
  Investor Services
  Registered Office: 8, Balaji Estate, First Floor,
  Guru Ravi Das Marg, Kalkaji, New Delhi - 110 019
  E-Mail: NIITDIVTDS@niit.com ;investors@niit.com
  
  - Alankit Assignments Limited (Registrar and Share Transfer Agent)
  Alankit House, 4E/2, Jhandewalan Extension, New Delhi -110 055
  Email: rta@alankit.com
• • Failure to do so, will attract higher TDS rates as mentioned in the above paragraphs. Request and copy of documents to be sent through your registered email to the abovementioned email of Company and /or RTA. Otherwise copies of document be sent to the Company’s abovementioned registered office address.
• If the tax on dividend is deducted at a higher rate in absence of receipt of or satisfactory completeness of the afore-mentioned details/documents, then the shareholder may claim an appropriate refund in their return of income filed with their respective Tax authorities.

• The Company will arrange to email a soft copy of the TDS certificate at the shareholders registered email ID in due course. Please ensure your correct email Id is updated in your demat account /physical folio. If not, please get it updated as soon as possible as prescribed above for PAN card updation
• Shareholders will also be able to see the credit of TDS in Form 26AS, which can be downloaded from their Income Tax e-filing accounts by following below process:-
  
  • (i) Login your tax account with user id and Password to https://www.incometaxindiaefiling.gov.in
  • (ii) Go to My Account Tab and select option View Form 26AS (Tax Credit)
  • (iii) Confirm the page and agree with terms and conditions
  • (iv) Now click on View Tax Credit (Form 26AS)
  • (v) Select Assessment Year 2021-22 and select view as HTML and then press the button on view/download
  • (vi) You will get your Form 26AS where you can see your TDS credit on dividend.
• Please note, TDS credit in Form 26AS would be reflected after the TDS Return is filed on a quarterly basis by the Company, and the same is processed by the Income-tax department.

Yes, in case you are resident Individual/ HUF shareholder and your total income is not exceeding the income chargeable to tax in India as per Income Tax Act, 1961, then you can submit Form 15G/15H immediately to the Company along with copy of self-attested PAN card. Please note Form 15G/H if applicable is to be filed every Financial Year preferably in the month of April (beginning of the FY). Please ensure that your correct PAN card details are already updated in your demat account /physical folio as the case may be before applying so.

• Form 15G (applicable to an individuals aged less than 60 years and applicable for HUF) available in https://www.incometaxindia.gov.in/pages/downloads/most-used-forms.aspx
• Form 15H (applicable to an Individual aged 60 years or more) available in https://www.incometaxindia.gov.in/pages/downloads/most-used-forms.aspx

Yes, there are following entities which are exempt from TDS on dividend

• Insurance entities (LIC, GIC, etc.): TDS is not applicable on payment of dividend to these insurance entities which are given exemption under proviso to section 194 of Income Tax Act, 1961. Such Insurance entities should provide a self-declaration that they are engaged in insurance business with a self-attested copy of PAN card and registration certificate with Insurance Regulatory and Development Authority (IRDA).
• Mutual Funds:: In terms of section 196, TDS is not applicable on payment of dividend to Mutual Funds covered under section 10(23D) of Income Tax Act, 1961. Such Mutual Funds should provide a self-declaration that they are covered under Section 10 (23D) of the Income Tax Act, 1961, with a self-attested copy of PAN card and registration certificate.
• Indian Government entities:In terms of section 196, TDS is not applicable on payment of dividend to Government entities (Central or State). Such Government entities should provide a documentary evidence for the same. It may be noted that Public Sector Undertakings (PSUs) donot characterize as Government.
• Corporation established by or under a Central Act which is exempt from Income-Tax on its income:In terms of section 196, TDS is not applicable on payment of dividend to a corporation established by or under a Central Act which is exempt from Income-Tax on its income. Such corporations should provide a documentary evidence for the aforesaid.
• Alternate investment fund (category – I & II):TDS is not applicable on payment of dividend to Alternate investment fund (category – I & II), covered by Notification No. 51/2015 dated June 25, 2015, where dividend is exempt under section 10(23FBA) and this entity is regulated under the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012. Such entities should provide a self-attested copy certificate of registration as a Category I or a Category II Alternative Investment Fund with PAN.
• Persons who have obtained a certificate under section 197 of the Income-Tax Act: TDS would be done as per the lower or nil rate that may be mentioned in the certificate under section 197 of the Act. The certificate furnished to the Company should specifically mention the nature of income as dividend, amount expected and the payer as NIIT Limited.
• Other persons who may be exempt under any other provisions under the Income Tax Act:The Company, in absence of any express dispensation in the statute, would generally do a TDS on dividend payments to such persons so as to comply the provisions of the Income Tax Act and get into any litigation. However, in a case where a shareholder furnishes - a) relevant documentation to suggest that it is exempt from tax; and b) a specific notification/ circular issued by the CBDT stating that TDS should not be done on payments to such a shareholder, the Company, basis the advise from its tax team, would decide whether tax deduction is required.

• All of the documents duly signed/certified should be sent on/before September 10, 2020 to Company and/or its Registrar & Share Transfer Agent:
   - NIIT Limited
  Investor Services
  Registered Office: 8, Balaji Estate, First Floor,
  Guru Ravi Das Marg, Kalkaji, New Delhi - 110 019
  E-Mail: NIITDIVTDS@niit.com ;investors@niit.com
  
  - Alankit Assignments Limited (Registrar and Share Transfer Agent)
  Alankit House, 4E/2, Jhandewalan Extension, New Delhi -110 055
  Email: rta@alankit.com
• Failure to do so, will attract higher TDS rates as mentioned in the above paragraphs. Request and copy of documents to be sent through your registered email to the abovementioned email of Company and /or RTA. Otherwise copies of document be sent to the Company’s abovementioned registered office address.
• If the tax on dividend is deducted at a higher rate in absence of receipt of or satisfactory completeness of the afore-mentioned details/documents, then the shareholder may claim an appropriate refund in their return of income filed with their respective Tax authorities.

• The Company will arrange to email a soft copy of the TDS certificate at the shareholders registered email ID in due course. Please ensure your correct email Id is updated in your demat account /physical folio. If not, please get it updated as soon as possible as prescribed above for PAN card updation
• Shareholders will also be able to see the credit of TDS in Form 26AS, which can be downloaded from their Income Tax e-filing accounts by following below process:-
  
  • (i) Login your tax account with user id and Password to https://www.incometaxindiaefiling.gov.in
  • (ii) Go to My Account Tab and select option View Form 26AS (Tax Credit)
  • (iii) Confirm the page and agree with terms and conditions
  • (iv) Now click on View Tax Credit (Form 26AS)
  • (v) Select Assessment Year 2021-22 and select view as HTML and then press the button on view/download
  • (vi) You will get your Form 26AS where you can see your TDS credit on dividend.
• Please note, TDS credit in Form 26AS would be reflected after the TDS Return is filed on a quarterly basis by the Company, and the same is processed by the Income-tax department.