The AMC is going to deduct a 10% TDS and then payout the dividend to us since the units are lying in the broker’s account. The TDS will be filed against our PAN.
We will inturn give credit of the dividend received in the form of units to our customers and then file the TDS credit against the customer’s PAN on a quarterly basis. TDS credit to the extent of 10% will reflect in the 26AS of the assessee to whom the liquid bees units are credited
This is only till the new pledge process comes into effect, after which the stocks continue to remain in the client’s account and the client is direct beneficiary of the dividend.