The Bombay Stock Exchange (BSE) on October 25, issued a notification regarding the Fetching of documents from the Tax Service Platform available with Depository by Listed Companies for giving tax claim relief to Foreign Portfolio Investors (FPls) from the perspective of ease of doing business.
The following has been stated: -
•Recent amendments to the Income Tax Act require companies to deduct tax at source (TDS) on dividends and interest paid to shareholders, including Foreign Portfolio Investors (FPIs), at a rate of 20% or as per DTAA benefits.
•FPIs must provide documents like Form 10F and tax residency certificates to claim tax benefits. To streamline this process, NSDL has developed a tax services platform allowing Custodians to upload documents once per financial year for issuer access.
•Listed companies are encouraged to utilize this platform for efficient tax claim management.
[Notification No. 20241025-31]
