annual-report-FY2021

MAHINDRA & MAHINDRA LIMITED 6 if they are more beneficial to them. For this purpose, i.e. to avail the Tax Treaty benefits, the non-resident shareholder will have to provide the following: • I n case of FPI/FII, copy of SEBI Registration certificate; • S elf-attested true copy of Tax Residency Certificate (“TRC“) obtained from the tax authorities of the country of which the shareholder is resident for the FY 2020-21; • Self declaration in Form 10F; • S elf-attested true copy of the PAN Card if allotted by the Indian Income Tax authorities; • S elf-declaration in the format prescribed by the Company, certifying the following points: i. S hareholder is and will continue to remain a tax resident of the country of its residence during the FY 2021-22; ii. S hareholder is eligible to claim the beneficial DTAA rate for the purposes of tax withholding on dividend declared by the Company; iii. S hareholder has no reason to believe that its claim for the benefits of the DTAA is impaired in any manner; iv. S hareholder does not have a taxable presence or a Permanent Establishment (“PE“) in India during the FY 2021-22. In any case, the amounts paid/payable to the Shareholder are not attributable or effectively connected to the PE or fixed base, if any, which may have got constituted otherwise; v. S hareholder is the ultimate beneficial owner of its shareholding in the Company and dividend receivable from the Company; and vi. S elf-declaration by the shareholder regarding the satisfaction of the place of effective management (POEM), principal purpose test, GAAR, Simplified Limitation of Benefit test (wherever applicable), as regards the eligibility to claim recourse to concerned Double Taxation Avoidance Agreements. P lease note that the Company is not obligated to apply the beneficial DTAA rates at the time of tax deduction/withholding on dividend amounts. Application of beneficial DTAA rate shall depend upon the completeness and satisfactory review by the Company, of the documents submitted by the Non‑Resident shareholder. M embers may submit the aforementioned documents at https: / / ris.kfintech.com/form15/ on or before Saturday, 10 th July, 2021 in order to enable the Company to determine and deduct appropriate tax. No communication on the tax determination/ deduction shall be entertained post Saturday, 10 th July, 2021. It may be further noted that in case the tax on said dividend is deducted at a higher rate in absence of receipt of the aforementioned details / documents from the Shareholders, there would still be an option available with the Shareholders to file the return of income and claim an appropriate refund, if eligible. I ntheeventofany incometaxdemand(including interest, penalty, etc.) arising from any misrepresentation, inaccuracy or omission of information provided by the shareholder, such shareholder will be responsible to indemnify the Company and also, provide the Company with all information/ documents and co-operation in any appellate proceedings. T he Company shall arrange to email the soft copy of TDS certificate to the Shareholders at the registered email ID in due course, post payment of the said Dividend. A n email communication informing the Shareholders regarding this change in the Income-tax Act, 1961 as well as the relevant procedure to be adopted by them to avail the applicable tax rate is being sent by the Company at the registered email IDs of the Shareholders. 15. IEPF: Under the Act, dividends that are unclaimed/ unpaid for a period of seven years are required to be transferred to the Investor Education and Protection Fund (“IEPF“) administered by the Central Government. An amount of Rs. 2,24,75,830 being unclaimed/unpaid dividend of the Company for the financial year ended 31 st March, 2013 was transferred in September, 2020 to IEPF. T he Company paid to IEPF on 10 th August, 2020, an amount of Rs. 49,07,998.95 towards dividend for the financial year ended 31 st March, 2020 on such Shares which were transferred to IEPF. M embers who have not encashed the dividend warrants /demand drafts so far in respect of the unclaimed and unpaid dividends declared by the Company for the Financial Year 2013-14 and thereafter, are requested to make their claim to KFintech well in advance of the last dates for claiming such unclaimed and unpaid dividends as specified hereunder: Financial Year ended Date of declaration of dividend Last date for claiming unpaid/ unclaimed dividend 31 st March, 2014 8 th August, 2014 7 th September, 2021 31 st March, 2015 7 th August, 2015 8 th September, 2022 31 st March, 2016 10 th August, 2016 8 th September, 2023 31 st March, 2017 4 th August, 2017 2 nd September, 2024 31 st March, 2018 7 th August, 2018 5 th September, 2025 31 st March, 2019 7 th August, 2019 5 th September, 2026 31 st March, 2020 7 th August, 2020 6 th September, 2027