A. RESIDENT MEMBERS: A.1 Tax Deductible at Source for Resident Members Sl No Particulars Withholding tax rate Documents required (if any) 1. Valid PAN updated in the Company’s Register of Members 10% No document required (if no exemption is sought) 2. No PAN/Valid PAN not updated in the Company’s Register of Members 20% No document required (if no exemption is sought) 3. Availability of lower/nil tax deduction certificate issued by Income Tax Department u/s 197 of Income Tax Act, 1961 Rate specified in the certificate Lower tax deduction certificate obtained from Income Tax Authority A.2 No Tax Deductible at Source on dividend payment to resident members if the Members submit and register following documents as mentioned below table with the Company/Kfintech Sl No Particulars Withholding tax rate Documents required (if any) 1. Submission of form 15G/15H Nil Declaration in Form No. 15G (applicable to any person other than a company or a firm) / Form 15H (applicable to an Individual who is 60 years and above), fulfilling certain conditions 2. Members to whom section 194 of the Income Tax,1961 does not apply such as LIC, GIC, etc. Nil Documentary evidence that the said provisions are not applicable 3. Member covered u/s 196 of Income Tax Act, 1961such as Government, RBI, corporations established by Central Act & mutual funds Nil Documentary evidence for coverage u/s 196 of Income Tax Act, 1961 4. Category I and II Alternative investment Fund Nil SEBI registration certificate to claim benefit under section 197A(1F) of Income Tax Act, 1961 5. • Recognised provident funds • Approved superannuation fund • Approved gratuity fund Nil Necessary documentary evidence as per Circular No. 18/2017 issued by Central Board of Direct Taxes(CBDT) 6. National Pension Scheme Nil No TDS as per section 197A (1E) of Income Tax Act, 1961 B. NON-RESIDENT MEMBERS: Withholding tax on dividend payment to non-resident members if the non-resident members submit and register following document as mentioned in the below table with the Company / RTA. Sl No Particulars Withholding tax rate Documents required (if any) 1 Foreign Institutional Investors (FIIs) / Foreign Portfolio Investors (FPIs) 20% (plus applicable surcharge and cess) FPI registration number / certificate 2 Other Non-resident members 20% (plus applicable surcharge and cess) or tax treaty rate whichever is beneficial To avail beneficial rate of tax treaty following tax documents would be required: i. Tax Residency certificate issued by revenue authority of country of residence of member for the year in which dividend is received ii. PAN iii. Form 10F filled & duly signed iv. Self-declaration for non-existence of permanent establishment/ fixed base in India (Note: Application of beneficial Tax Treaty Rate shall depend upon the completeness of the documents submitted by the Non- Resident member and review to the satisfaction of the Company) Notice STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 48 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD
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