I have received an email for deduction of TDS on dividend. It mentions that I should submit Form 15G if I want TDS to be deducted at lower rate. What happens if I dont submit Form 15G?
Form 15G is a document submitted by the investor for deduction of TDS at lower rate or nil rate. It is not mandatory to submit Form 15G to the Company.
Thus, if you do not submit Form 15G to the Company, you would still receive the dividend. However, if the dividend amount exceeds INR 5,000, the shareholder would receive the dividend after deduction of TDS at 10% (reduced to 7.5% for FY 2019-20)
Have you received an email for deduction of TDS on dividend - Read more here - TDS on Dividend paid in FY 2020-21