Facing TDS Even On Tiny Dividend Payouts? Here's What You Must Do

Facing TDS even on tiny dividend payouts? Here’s what you must do
Claiming TDS refund is a tedious process if you haven’t yet got your TDS certificate. COVID-19 has led to delays in companies filing information in Form 26AS
December 23, 2020 / 09:49 AM IST
Many taxpayers have complained of late that their dividends below Rs 5,000 have been subjected to Tax Deduction at Source (TDS). As per income-tax rules, companies deduct a 10 percent TDS for dividends of more than Rs 5,000 in a financial year. The entire dividend amount is taxable at your slab rate. Due to COVID-19, the TDS has been relaxed to 7.5 percent for the current financial year. If you don’t have a Permanent Account Number (PAN), then the TDS rate is steeper, at 20 percent.

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