As per the Income Tax Act of India, dividends paid or distributed by a company on or after 1 April 2020 shall be taxable in the hands of the shareholders
After knowing that companies have to deduct tax at source on dividends, I produced a tax residency certificate (TRC) seeking to exempt me from TDS. But the companies are not accepting it. The government of Kuwait gives TRC only for up to 31 March 2021. But the companies want it from 1 April 2021 to 31 March 2022. They say I can get it only after 183 days starting 1 March 2021. The companies are saying they will deduct tax on dividends. Can I claim refund of the tax while filing returns for 2020-21 this year and for 2021-22 next year.