Effective 1st April 2020, in line with the Union Budget announcement, Mutual funds will need to deduct TDS on Dividends for every dividend transaction in the case of resident investors. Dividend declared will be cumulated and TDS will be deducted after a threshold limit.
Form 15H is for senior citizens, those who are 60 years or older; while Form 15G is for everybody else. The Form 15G and Form 15H are valid for one financial year. So, please submit these forms every year at the beginning of the financial year. This will ensure TDS is not deducted from your dividend.
Note that Date of Birth (DOB) is an important validation for this upload since applicability of 15H / 15G form is dependent on the age of the investor. System will match and validate the DOB input by the investor with the DOB available in the RTA database. Only the matched records would get uploaded in the system. Hence, if DOB is not available in RTA database (CAMS) or DOB is different from the DOB entered by the investor, the upload will fail.
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