FPIs bat for common platform to avail Budget benefit on dividends

Tax consultants and custodians are also putting heads together to standardise the kind of documents needed to be furnished by FPIs, which can be acceptable to all companies

A clutch of foreign custodians have reached out to the depositories to allow foreign portfolio investors (FPIs) to upload details for availing lower withholding tax on dividends received at the depository account level.

The aim is to enable companies to download the requisite information directly from the depositories or from their registrars, making it easier for them to withhold tax after taking into account treaty benefits as applicable.

Tax consultants and custodians are also putting their heads together to standardise the kind of documents that need to be furnished by FPIs, which can be acceptable to all companies. Other than