Voltas Ltd. — Regulatory Filings 2020

Jul 4, 2020

4 th July, 2020

Department of Corporate Services Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra-Kurla Complex

BSE Limited National Stock Exchange of India Limited Mumbai 400 001 Bandra (East), Mumbai 400 050

Dear Sir,

Sub: Communication to Shareholders for deduction of Tax on Dividend --------------------------------------------------------------------------------

Pursuant to the Finance Act, 2020, with effect from 1st April, 2020, Dividend Distribution Tax is abolished and dividend income is taxable in the hands of the shareholders.

1. In this regard, we enclose herewith an email communication sent to all the shareholders having their email address registered with the Company/Depositories explaining the process on withholding tax from dividend proposed to be paid to the shareholders, at prescribed rates, along with the necessary annexures.

1. The above is for your information and records. This Communication is also available on the website of the Company at www.voltas.com.

Thanking you,

Yours faithfully, VOLTAS LIMITED VARUN PRAKASH MALHOTRA Digitally signed by VARUN PRAKASH MALHOTRA 93c82b1b7985e14a166c, 8EA,

V. P. Malhotra Vice President – Taxation, Legal & Company Secretary

Encl:

VOLTAS LIMITED

Registered Office: Voltas House A, Dr. Babasaheb Ambedkar Road, Chinchpokli, Mumbai 400 033 Phone No: 022 6665 6511; Email: shareservices@voltas.com Website: www.voltas.com CIN: L29308MH1954PLC009371

3 rd July, 2020

Dear Shareholder(s),

Sub: Communication for deduction of Tax on Dividend for 2019-20

We are pleased to inform you that the Board of Directors have, at their Meeting held on 29th May, 2020, recommended a dividend of Rs.4 per Equity Share of Rs.1/- each (400%) for the financial year ended 31st March, 2020 and the same would be payable, if approved by the shareholders at the 66th Annual General Meeting (AGM) of the Company to be held on 21st August, 2020.

Pursuant to the General Circular No. 20/2020 dated 5th May, 2020 issued by the Ministry of Corporate Affairs, the dividend will be paid electronically by crediting the bank account of the shareholders registered with the Company. The Company will keep on hold the dividend warrants, cheques/demand drafts (as the case may be) of the shareholders who have not registered their bank account details with the Company and will dispatch the same, post lifting of the Covid-19 lockdown and the postal /courier resuming normal services. The shareholders holding shares in demat form are advised to ensure that their bank account details are updated with their Depository Participants. Shareholders holding shares in physical form and who have not updated their bank accounts details are requested to update the same at the earliest with the Company's Registrar and Transfer Agents - TSR Darashaw Consultants Private Limited (TSR).

In accordance with the provisions of the Income-tax Act, 1961 as amended by the Finance Act, 2020 ("Act"), dividends paid or distributed by a Company after 1st April, 2020 are taxable in the hands of the shareholders. The Company would therefore be required to deduct tax at source, as may be applicable from the said dividend paid to the Shareholders.

The rate at which the dividend may be subject to withholding tax would vary depending on the residential status of the shareholder and the documents submitted by them and accepted by the Company.

Resident Individual Shareholders:

Tax would not be deducted on payment of dividend to resident Individual shareholder, if total dividend to be paid in a financial year does not exceed Rs.5,000. The threshold amount of Rs.5,000 shall be at the PAN (Permanent Account Number) level and not at Folio / DP level.

Other Resident Shareholders:

Please refer to the table below for the rate of TDS and documents to be provided:

Category of Shareholder	Tax deduction	Documents to be provided
	rate
Shareholder whosePANis		Forshares are held in demat form:Registerthe PAN
registered with Depositories or		and the residential status as perIncome-taxAct, 1961
Company's RTAor Company		with the Depositories, if not registered;
	7.5%	For shares held in physical mode: Register the PAN
		and the residential status as per Income-taxAct, 1961
		with TSR ,if not registered.
		Form 15G (applicable to any person other than a
		Company or a Firm) / Form 15H (applicable to an
	Nil	Individual above theage of 60 years), as per the
		attached Formats,subject torequired eligibility
		conditions being met.
Shareholder not having PAN/	20%
Invalid PAN / having PAN but not
registeredwith depositoriesor
Company's RTAorCompany
Shareholder who submitsthe	At the Rate	Lower/Nilwithholding tax certificateto be obtained
Order under Section 197 of the	providedin	from tax authority.
Income-tax Act, 1961	the Order
Shareholders(e.g. LIC, GIC, other	Nil	(a)Self-declarationthatit has full beneficial interest
Insurers) towhom provisionsof		with respect to the shares owned by it; and
Section 194 of the Income-tax Act,		(b)Self-attested copy of PANCard.
1961arenot applicable.
Alternative Investment Fund	Nil	(a)Self-declaration stating that the shareholderis
		-CategoryIorCategoryIIAlternative
		Investment Fund and is regulated by the
		Securities and Exchange Board of India;
		-is covered by notification no. 51/2015 dated
		25th June 2015;and
		-has full beneficial interest with respect to the
		shares owned by it.
		(b)Self-attested copy of registration certificate; and
		(c)Self-attested copy of PANCard
Shareholderscovered underSection 196 of the Income-tax Act,	Nil	(a)Self-declaration stating that the shareholder is-a Mutual Fund as specified in Section
1961(e.g. Mutual Funds,		10(23D) of the Income-tax Act, 1961;
Government)		-is covered by Section 196(iv) of Income-tax
		Act, 1961; and
		-has full beneficial interest with respect to the
		shares owned by it.
		(b)Self-attested copy of registrationcertificate; and
		(c)Self-attested copy of PANCard

Non-Resident Shareholders:

Particulars	Tax deduction Rate	Documents to be provided
Foreign Institutional	20% (plus	Please note that for the purpose of withholding tax, it
Investors (FIIs) /	applicable	will not be possible to considerthe applicable treaty
Foreign Portfolio	surcharge and cess)	benefits, if any, since the provisions of Income-tax
Investors (FPIs)		Act do not provide so.
Shareholder who	Rate as prescribed	Lower / Nil withholding tax certificate obtained from
submits the Order	in the order	the tax authority.
under Section 197 of
the Income-tax Act,
1961
Other Non-Resident	20% (plus	Documentsrequired to claim treaty benefits:
shareholders	applicable	(a)Self-attested copy of the Permanent Account
	surcharge and cess)	Number (PAN Card) allotted by the Indian
	OR	Income-tax authorities.
	Tax Treaty Rate	(b)Self-attested copy ofTax Residency Certificate
	(whichever is	(TRC)obtained from the tax authorities of the
	lower)	country of which the shareholder is resident, valid
		for FY2020-21.
		(c)Self-declarationinForm 10F(attached herewith).
		(d)Self-declaration of havingno Permanent
		Establishment in India and Beneficial
		ownership. (draft format attached herewith).

Please refer to the below table for the rate of TDS and documents to be submitted:

The Company is not obligated to apply the beneficial Tax Treaty rates at the time of tax deduction/withholding tax on dividend amounts. Application of beneficial Tax Treaty Rate shall depend upon the completeness of the documents submitted by the Non- Resident shareholder and subject to review and satisfaction of the Company. The Company in its sole discretion reserves the right to call for any further information, if so required.

You are therefore requested to send the aforesaid documents, as applicable, by email, mentioning the name of the Company, Voltas Limited, in the subject line, on or before 6 th August, 2020 to enable the Company to determine the appropriate TDS/withholding tax rate applicable. If postal normalcy is restored, the documents, forms should be sent by post /courier to TSR at the address mentioned below.

1. Resident shareholders - csg-exemptforms2@tsrdarashaw.com

2. Non-resident shareholders - direct\_tax@voltas.com

Please note that if no communication on the tax determination/deduction is received and/or your PAN details are not available on or before 6 th August, 2020 then the Company may deduct the tax at a higher rate. You may claim the appropriate refund in the Return of Income filed with your respective Tax Authorities for the tax so deducted.

No claim shall lie against the Company for such taxes deducted.

The Company will arrange to email a soft copy of the TDS certificate at the registered email address of the shareholders in due course, post payment of the dividend. Shareholders will also be able to see the credit for TDS in Form 26AS, which can be downloaded from your income tax e-filing account at https://incometaxindiaefiling.gov.in.

For any further information, you can contact either of the following:

Company(at the Registered office)	Registrar and Transfer Agent(RTA)
Voltas Limited	TSR DarashawConsultants Private Limited
Company Secretariat,	6-10, Haji Moosa Patrawala Industrial Estate,
Voltas House A,	20, Dr. E. Moses Road, Near Famous Studio,
Dr. Babasaheb Ambedkar Road,	Mahalaxmi, Mumbai 400 011.
Chinchpokli, Mumbai 400 033.	Tel No.: +91 22 6656 8484/
Tel No: +91 22 6665 6511	Fax No.: +91 22 6656 8494
Fax No.: +91 22 6665 6311	Email: csg-unit@tsrdarashaw.com
Email: shareservices@voltas.com

Yours Sincerely,

Sd/- V. P. Malhotra Vice President – Taxation, Legal & Company Secretary

Note: This is a system generated e-mail. Please do not reply to this e-mail.

Name of the Company Dp. Id – Client Id/ Folio No.

VOLTAS LIMITED

INCOME-TAX RULES, 1962

1FORM NO. 15G

[See section 197A(1), 197A(1A) and rule 29C]

Declaration under section 197A(1) and section 197A(1A) to be made by an individual or a person (not being a company or firm) claiming certain incomes without deduction of tax

				P A R T I
1.	Nameof	Assessee(Declarant)			Assessee12.PANofthe
3.	Status2	4.	Previousyear	(P.Y.)3			5.		ResidentialStatus4
			(forwhich	declaration is		beingmade)
6.	Flat/Door/Block		7.Name	of	8.	Road/Street/Lane		9.	Area/Locality
	No.		Premises
10.	Town/City/District		11.State		12.	PIN		13.	Email
14.	TelephoneNo.	(with	15.(a)	Whether	assessed	to	Yes	No
	STD Code)and		tax	under		the Income-tax
	MobileNo.			Act,19615
						(b) If yes, latest assessment
			year for	which		assessed
16.	Estimatedincomeforwhichthisdeclaration ismade				17.EstimatedtotalincomeoftheP.Y.inwhichincomementionedincolumn16included6tobe
18.	DetailsofForm		No.15Gother	thanthis	form	filedduring	the	previous	any7year,if
	TotalNo.ofFormfiled		No.15G	Aggregate		amountofNo.15G	incomeforfiled	which	Form
19.	Detailsofincomeforwhichthedeclarationisfiled
	IdentificationnumberofSl.relevant investment/account,No.etc8		Nature	of	income	Sectionwhichdeductible	undertax is	Amountofincome
	………….

…………….…………………… Signature of the Declarant 9

Declaration/Verification10

*I/We...............................................................do hereby declare that to the best of *my /our knowledge and belief what is stated above is correct, complete and is truly stated. *I/We declare that the incomes referred to in this form are not includible in the total income of any other person under sections 60 to 64 of the Income-tax Act, 1961. *I/We further declare that the tax *on my/our estimated total income including *income/incomes referred to in column 16 *and aggregate amount of *income/incomes referred to in column 18 computed in accordance with the provisions of the Income-tax Act,1961, for the previous year ending on 31-MAR-2021. relevant to the assessment year 2021-2022.will be nil. *I/We also declare that *my/our *income/incomes referred to in column16 *and the aggregate amount of *income/incomes referred to in column 18 for the previous year ending on 31-MAR-2021. relevant to the assessment year 2021-2022 will not exceed the maximum amount which is not charge-able to income-tax.

Pla c e:… … …… …… ……. .	… … …… …… …… …… …
Date:	Declarant9Signatureofthe

______________

1. Substituted by IT (Fourteenth Amdt.) Rules 2015, w.e.f. 1-10-2015. Earlier Form No.15G was inserted by the IT (Fifth Amdt.)Rules, 1982, w.e.f. 21-6-1982 and later on amended by the IT (Fifth Amdt.) Rules, 1989, w.r.e.f. 1-4-1988, IT (Fourteenth Amdt.) Rules, 1990, w.e.f. 20-11-1990 and IT (Twelfth Amdt.) Rules, 2002, w.e.f. 21-6-2002 and substituted by the IT (Eighth Amdt.) Rules, 2003, w.e.f. 9-6-2003 and IT (Second Amdt.)Rules, 2013, w.e.f. 19-2-2013.

PART II

		referredtoin	column	16of	PartI]
1.	Nameoftheperson	responsiblefor	paying	2.	11UniqueIdentificationNo.
3.	PANofthepersonresponsibleforpaying	4.CompleteAddress		5.	TANofthepersonresponsibleforpaying
6.	Email	7.Telephone No. (with STDCode) and Mobile No.			128.Amount of income paid
9.	Dateonwhichreceived (DD/MM/YYYY)	Declarationis	10.Date	on	whichtheincomehasbeenpaid/credited (DD/MM/YYYY)

[To be filled by the person responsible for paying the income referred to in column 16 of Part I]

P l a c e :	………………………………………
Date:	Signature of the personresponsible

for paying the income referred to in co lu mn 1 6 o f Pa rtI

*Delete whichever is not applicable.

1As per provisions of section 206AA(2), the declaration under section 197A(1) or 197A(1A) shall be invalid if the declarant fails to furnish his valid Permanent Account Number (PAN). 2Declaration can be furnished by an individual under section 197 A (1) and a person (other

than a company or a firm) under section 197A(1A).

3The financial year to which the income pertains.

4Please mention the residential status as per the provisions of section 6 of the Incometax Act, 1961.

5Please mention "Yes" if assessed to tax under the provisions of Income-tax Act, 1961 for any of the assessment year out of six assessment years preceding the year in which the declaration is filed.

6Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made.

7 Incase any declaration(s) in Form No.15G is filed before filing this declaration during the previous year, mention the total number of such Form No.15G filed alongwith the aggregate amount of income for which said declaration(s) have been filed.

8Mention the distinctive number of shares, account number of term deposit, recurring deposit, National Savings Schemes, life insurance policy number, employee code, etc.

9 Indicate the capacity in which the declaration is furnished on behalf of a HUF, AOP, etc.

10Before signing the declaration/verification, the declarant should satisfy himself that the information furnished in this form is true, correct and complete in all respects. Any person making a false statement in the declaration shall be liable to prosecution under section 277 of the Income-tax Act, 1961 and on conviction be punishable-

• (i) in a case where tax sought to be evaded exceeds twenty-five lakh rupees, with rigorous imprisonment which shall not be less than six months but which may extend to seven years and with fine;
• (ii) in any other case, with rigorous imprisonment which shall not be less than three months but which may extend to two years and with fine.

11The person responsible for paying the income referred to in column16 of Part I shall allot a unique identification number to all theFormNo.15G received by him during a quarter of the financial year and report this reference number alongwith the particulars prescribed in rule 31A(4)(vii) of the Income-tax Rules, 1962 in the TDS statement furnished for the same quarter. Incase the person has also received FormNo.15H during the same quarter, please allot separate series of serial number for FormNo.15G and FormNo.15H.

12The person responsible for paying the income referred to in column 16 of Part I shall not accept the declaration where the amount of income of the nature referred to in sub-section (1) or sub-section (1A) of section 197A or the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the previous year in which such income is to be included exceeds the maximum amount which is not chargeable to tax. For deciding the eligibility, he is required to verify income or the aggregate amount of incomes, as the case may be, reported by the declarant in columns 16 and 18.

Name of the Company	Dp. Id –Client Id/ Folio No.

VOLTAS LIMITED

1FORM NO. 15H

[See section 197A(1C) and rule 29C]

Declaration under section 197A(1C) to be made by an individual who is of the age of sixty years or more claiming certain incomes without deduction of tax.

PART I

1. Name of Assessee (Declarant)		2. Permanent AccountNumber or AadhaarNumber of the Assessee1		3. Date ofBirth2(DD/MM/YYYY)
4. Previous year(P.Y.)3which declaration is being made)	(for	5. Flat/Door/Block No.		6. Name of Premises
7. Road/Street/Lane	8. Area/Locality		9. Town/City/District		10. State
11. PIN12. Email			13. Telephone No. (with STD Code) and Mobile No.
14 (a) Whether assessed to tax4:				Yes		No
(b) If yes, latest assessment year for which assessed
15.Estimated income for which this declaration is made
16.mentioned in column 15 to be included5		Estimated total income of the P.Y. in which income
17.			Details of Form No.15H other than this form filed for the previous year, if any6
Total No. of Form No.15H filed			Aggregate amount of income for which Form No.15H filed
18. Details of income for which the declaration is filed
Sl.No.	Identification number ofrelevantinvestment/account, etc.7		Nature of income		Section underwhich tax isdeductible	Amount ofincome

Signature of the Declarant

1. Substituted by the IT (Fourteenth Amdt.) Rules, 2015, w.e.f. 1-10-2015. Earlier Form No. 15H was amended by the IT (Fifth Amdt.) Rules, 1982, w.e.f. 21-6-1982, IT (Fifth Amdt.) Rules, 1989, w.r.e.f. 1-4-1988, IT (Fourteenth Amdt.) Rules, 1990, w.e.f. 20-11-1990, IT (Twelfth Amdt.) Rules, 1992, w.e.f. 1-6-1992, IT (Seventh Amdt.) Rules, 1995, w.e.f. 1-7-1995, IT (Thirty-second Amdt.) Rules, 1999, w.e.f. 19-11-1999, IT (Twelfth Amdt.) Rules, 2002, w.e.f. 21-6-2002, IT (Eighth Amdt.) Rules, 2003, w.e.f. 9-6-2003, IT (Fourteenth Amdt.) Rules, 2003, w.e.f. 1-8-2003 and IT (Second Amdt.) Rules, 2013, w.e.f. 19-2-2013.

Declaration/Verification8

I ................................................................ do hereby declare that I am resident in India within the meaning of section 6 of the Income-tax Act, 1961. I also hereby declare that to the best of my knowledge and belief what is stated above is correct, complete and is truly stated and that the incomes referred to in this form are not includible in the total income of any other person under sections 60 to 64 of the Income-tax Act, 1961. I further declare that the tax on my estimated total income including *income/incomes referred to in column 15 *and aggregate amount of *income/incomes referred to in column 17 computed in accordance with the provisions of the Income-tax Act, 1961, for the previous year ending on 31-MAR-2021 relevant to the assessment year 2021-2022 will be nil.

Place:....................................

Date :………………………… Signature of the Declarant Signature

PART II [To be filled by the person responsible for paying the income referred to in column 15 of Part I]

1. Name of the person responsible for paying			2. Unique Identification No.9
3. Permanent AccountNumber or AadhaarNumber of the personresponsible for paying	4. Complete Address		5. TAN of the personresponsible for paying
6. Email	7. Telephone No. (with STD Code)and Mobile No.		8. Amount of income paid10
9. Date on which Declaration isreceived (DD/MM/YYYY)				10. Date on which the income has beenpaid/credited (DD/MM/YYYY)

Place:.................................... Date: .............................................................Signature of the person responsible for paying the income referred to in column 15 of Part I

*Delete whichever is not applicable.

1. As per provisions of section 206AA(2), the declaration under section 197A(1C) shall be invalid if the declarant fails to furnish his valid Permanent Account Number or Aadhaar Number.

2. Declaration can be furnished by a resident individual who is of the age of 60 years or more at any time during the previous year.

3.The financial year to which the income pertains.

1. Please mention "Yes" if assessed to tax under the provisions of Income-tax Act, 1961 for any of the assessment year out of six assessment years preceding the year in which the declaration is filed.

2. Please mention the amount of estimated total income of the previous year for which the declaration is filed including the amount of income for which this declaration is made.

6.In case any declaration(s) in Form No. 15H is filed before filing this declaration during the previous year, mention the total number of such Form No. 15H filed along with the aggregate amount of income for which said declaration(s) have been filed.

1. Mention the distinctive number of shares, account number of term deposit, recurring deposit, National Savings Schemes, life insurance policy number, employee code, etc.

8.Before signing the declaration/verification, the declarant should satisfy himself that the information furnished in this form is true, correct and complete in all respects. Any person making a false statement in the declaration shall be liable to prosecution under section 277 of the Income-tax Act, 1961 and on conviction be punishable—

• (i) in a case where tax sought to be evaded exceeds twenty-five lakh rupees, with rigorous imprisonment which shall not be less than six months but which may extend to seven years and with fine;
• (ii) in any other case, with rigorous imprisonment which shall not be less than three months but which may extend to two years and with fine.

9.The person responsible for paying the income referred to in column 15 of Part I shall allot a unique identification number to all the Form No. 15H received by him during a quarter of the financial year and report this reference number along with the particulars prescribed in rule 31A(4)(vii) of the Income-tax Rules, 1962 in the TDS statement furnished for the same quarter. In case the person has also received Form No.15G during the same quarter, please allot separate series of serial number for Form No.15H and Form No.15G.

1. The person responsible for paying the income referred to in column 15 of Part I shall not accept the declaration where the amount of income of the nature referred to in section 197A(1C) or the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the previous year in which such income is to be included exceeds the maximum amount which is not chargeable to tax after allowing for deduction(s) under Chapter VI-A, if any, or set off of loss, if any, under the head "income from house property" for which the declarant is eligible. For deciding the eligibility, he is required to verify income or the aggregate amount of incomes, as the case may be, reported by the declarant in columns 15 and 17.

1 [Provided that such person shall accept the declaration in a case where income of the assessee, who is eligible for rebate of income-tax under section 87A, is higher than the income for which declaration can be accepted as per this note, but his tax liability shall be nil after taking into account the rebate available to him under the said section 87A.]

1. Inserted by Income-tax (4th Amendment) Rules, 2019, w.e.f. 22-5-2019.

FORM NO. 10F

[See sub-rule (1) of rule 21AB]

Information to be provided under sub-section (5) of section 90 or sub-section (5) of section 90A of the Income-tax Act, 1961

I................................ *son/daughter of Shri............................................ in the capacity of (designation) do provide the following information, relevant to the previous year ....................................................................... *in my case/in the case of...................................for the purposes of sub-section (5) of *section 90/section 90A:—

Sl.No .	Nature of information	:	Details#
(i)	Status (individual, company, firm etc.) of the assessee	:
(ii)	Permanent Account Number or Aadhaar Number of the assessee ifallotted	:
(iii)	Nationality (in the case of an individual) or Country or specifiedterritory of incorporation or registration (in the case of others)	:
(iv)	Assessee'stax identification number in the country or specifiedterritory of residence and if there is no such number, then, a uniquenumber on the basis of which the person is identified by theGovernment of the country or the specified territory of which theassessee claims to be a resident	:
(v)	Period for which the residential status as mentioned in the certificatereferred to in sub-section (4) of section 90 or sub-section (4) of section90A is applicable	:
(vi)	Address of the assesseein the country or territory outside India duringthe period for which the certificate, mentioned in (v) above, isapplicable	:

2. I have obtained a certificate referred to in sub-section (4) of section 90 or sub-section (4) of section 90A from the Government of .............................................................. (name of country or specified territory outside India)

Signature: ........................................... Name: Address: ..........................................

Permanent Account Number or Aadhaar Number.......

Verification

............................................... I . do hereby declare that to the best of my knowledge and belief what is stated above is correct, complete and is truly stated.

Verified today the ........................................ . day of .......................................... Signature of the person providing the information

Place: ...........................................

Notes :

1. *Delete whichever is not applicable.

2. #Write N.A. if the relevant information forms part of the certificate referred to in sub-section (4) of section 90 or sub-section (4) of section 90A.

<Company's letter head>

Date:

Name and Address of the Company

Folio No:

This is to certify that

• 1. <insert company's name>, is a body corporate incorporated and registered in under the laws of .
• 1. We, << Name of the shareholder >> confirm that we are a tax resident of <> and are eligible to claim benefits of the India - << Insert country>> Double Tax Avoidance Agreement (DTAA), read with the provisions laid down in Multilateral Instrument (MLI), wherever applicable.
• 1. Our Tax Identification Number issued by is
• 1. We, <> are the beneficial owner of the shares allotted in above folio no. as well as of the dividend arising from such shareholding. .
• 1. I/ We further declare that I/ we have the right to use and enjoy the dividend received/ receivable from the above shares and such right is not constrained by any contractual and/ or legal obligation to pass on such dividend to another person.
• 1. We either do not have a Permanent Establishment (P.E.) in India or Dividend income earned by us is not attributable/effectively connected to the our P.E. in India as defined under the Income Tax Act, 1961 and DTAA between India and read with the provisions laid down in Multilateral Instruments (MLI), wherever applicable, during the financial year <<>>. We further confirm that we do not have any business connection in India as per provisions of Income Tax Act 1961. In the event of we having a P.E. in India or Dividend income is attributable/effectively connected to such P.E., we acknowledge our obligation to inform you forthwith with necessary details.

We further indemnify << Name of the Company >> for any penal consequences arising out of any acts of commission or omission initiated by << Name of the Company >> by relying on our above averment.

Thanking you,

Yours Sincerely, For <company's name> _________________ Name:

Signature :

Date:

Name and Address of the Company

Folio No:

This is to certify that

• 1. I, << Name of the shareholder >> confirm that I am a tax resident of <> and are eligible to claim benefits of the India - << Insert country>> Double Tax Avoidance Agreement (DTAA), read with the provisions laid down in Multilateral Instrument (MLI), wherever applicable.
• 1. My Tax Identification Number issued by is
• 1. I, am beneficial owner of the shares allotted in above folio no. as well as of the dividend arising from such shareholding.
• 1. I further declare that I have the right to use and enjoy the dividend received/ receivable from the above shares and such right is not constrained by any contractual and/ or legal obligation to pass on such dividend to another person.
• 1. I do not have a Permanent Establishment (P.E.) or any fixed base in India as defined under the Income Tax Act, 1961 and DTAA between India and read with the provisions laid down in Multilateral Instruments (MLI), wherever applicable, during the financial year <<>>. In the event of I would have a P.E. or fixed base in India, I acknowledge my obligation to inform you forthwith with necessary details.

I further indemnify << Name of the Company >> for any penal consequences arising out of any acts of commission or omission initiated by<< Name of the Company >> by relying on my above averment.

Thanking you,

Yours Sincerely,

Name:

Signature :