General

NRI client has dematerialized his physical shares with us. What is needed for TDS calculation?

Acquisition proof, share certificate is required. No documentary Proof Required

• If shares were purchased from your ICICI Direct account

• Shares being sold are bonus shares transferred from your ICICI Direct PINS account

• Shares being sold were allotted under IPO through ICICI Direct

1. Documentary Proof Required, shares being sold are migrated from another broker/bank - Contract Notes of shares bought through another broker

2. Documentary Proof Required, shares being sold are eSOP exercised from employer - eSOP allotment Letter from employer with exercise price & perquisite tax payment in India or abroad

3. Documentary Proof Required, shares being sold are Gift from Resident Indian - Gift Deed on a legal stamp paper or bearing the seal & stamp of a Consular Officer. Deed should mention purpose of gift and annexure specifying ISIN, Scrip Name, Quantity

4. Documentary Proof Required, shares being sold are Inheritance / Transmission from Resident Indian-

• Will/Probate

• Death certificate

• Nominee details are required

Additionally

• Demat Transaction Statement from where shares were transferred to your ICICI Bank DP

• Repatriation proof to establish shares were acquired with NRE funds, if applicable

Declaration

• In case if documentary proof is not provided, LTCG or STCG as the case may be based on holding period will be applicable on the entire transaction value that will be deducted and paid to Income Tax authority.

• In case of sale through NRE Non Pins account where repatriability proof is not provided, payout will be withheld and by the end of month such payout will be credited to NRO linked bank account under same user ID, wherever available. If NRO bank account is not available, payout will be withheld till proof OR alternate NRO bank account is provided

• In case if additional TDS has been deducted by ICICI Direct in absence of documentary proof, you can claim the additional tax deducted by filing your IT returns.

• In case you are selling shares of demerged company OR shares of resulting company OR both then the purchase rate will be considered as ‘zero’ until the demerger ratio of allocation of cost between the companies is provided by the demerged company as per provisions of section 49(2C) & section 29(2D) of the Income Tax Act.

Please note:

• For shares sold through an NRO Non-PINS account - 25% of the sale value will be held by ICICI Securities Ltd. until the necessary documents are provided for TDS calculation.

• For shares sold through an NRE Non-PINS account - 100% of the sale value will be held by ICICI Securities Ltd. until the necessary documents are provided for TDS calculation.

• For shares sold through an NRE/NRO PINS account – Amount will be released after T+1 day as per settlement cycle post TDS deduction