TDS deducted on dividend income

I am a senior citizen and have not filed ITR till date as my income has always been below 2 lacs p.a. Last year, in the month of September, I got to know that TDS has been deducted from the shares I own since 2020 in physical format since 20+ years. I was told that due to a new rule by SEBI, KYC has to be submitted and I did the same in the month of September. I went to the RTA's of the companies and these RTAs are TSR Darashaw, Linkintime and Kfintech. Since my PAN was not updated in their records, they did not issue me a TDS certificate and kept on deducted TDS @ 20% before my KYC was updated. Some companies like Tata Steel and SKF have not updated the KYC details till date and are continuing to deduct TDS.

 

Recently, TSR Darashaw contacted me saying KYC was not updated for Tata Steel Limited shares and TDS was deducted at 20%. Since my PAN was not registered, they aren't ready to revise their TDS return or issue me any TDS certificate. Because of this, my 26AS doesn't reflect any TDS deductions.

 

My income is below 2 lacs in the FY 2022-23 and the only source of income is through dividends and FDs. What should I do to claim this TDS refund?

Replies (3)
Quick Summary
A senior citizen, whose income has historically been below taxable limits, discovered TDS deductions on their dividend income due to unsubmitted KYC details. Despite submitting KYC, some companies haven't updated their records, leading to incorrect TDS deductions and a lack of TDS certificates, meaning the deductions don't appear on Form 26AS. The individual is seeking advice on how to claim a refund for the wrongly deducted TDS.

The companies won't do anything for the higher tds deducted. What's gone is gone. Just start moving physical to demat and let kyc be updated in all folios. Going online is the only way ahead.
Why they are not ready to issue a TDS certificate??

Anyway, you can raise a grievances in the income tax portal by giving all the necessary documents. And proceed accordingly once they respond to your grievance.
The defuctor must intimate the fact and consequences of not having a pan.

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