Quick Summary
The government has proposed to simplify the process of filing declarations for non-deduction of tax at source (TDS) on certain incomes by allowing such declarations to be submitted directly to the depository. At present, Section 393(6) of the Income-tax Act provides that no TDS is required on spec
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FAQ :
Investors will soon be able to file a single declaration for TDS exemption through their depository, instead of submitting separate declarations to each income-paying entity.
The amendments are set to take effect from 1st April 2027.
This facility is for investors who hold their securities or units in dematerialised form with a depository and whose securities are listed on a registered stock exchange in India.
Investors holding physical securities or unlisted instruments will need to continue following the existing process for filing TDS exemption declarations.
Income payers will now furnish the received declarations to the Income-tax authority on a quarterly basis, rather than monthly.
The TDS exemption applies to specified incomes such as dividends, interest from securities, and income from mutual fund units.
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