Indian Overseas Bank : Notice to Bond Holders for Exercising Call Option on Basel-III Tier-II Bonds INE565A09264

Category of the Bondholder

Tax Deduction Rate

Exemption applicability and documentation requirements

Any resident bondholder (with PAN)

10%

Update valid PAN if not already done with depositories. In case PAN is

Any resident bondholder (without/invalid

not linked with Aadhaar Number, tax will be deducted at a higher rate of

20%

20%.

PAN)

Declaration in Form No. 15G (applicable to any person other than a

company or a firm)/Form 15H (applicable to an Individual who is 60

Resident individuals submitting Form

NIL

years and older), fulfilling certain conditions. Please download Form

15G/15H

15G/15H from the Income Tax website www.incometaxindia.gov.inor

from the website of our Registrar, Cameo Corporate Services Limited at

https://investors.cameoindia.com

Order under Section 193 of the Income-

Rate provided in the

Lower/NIL withholding tax certificate obtained from Income Tax

tax Act, 1961 ("Act")

order

authorities.

Documentary evidence that the provisions of Section 194 of the Act are

Bondholders to whom Section 194 of Act

not applicable. Self-declaration that it has full beneficial interest with

NIL

respect to the bonds owned by it along with Self attested copy of PAN

is not applicable.

card and copy of registration certification to satisfy that the said

provisions are not applicable.

Persons covered under Section 196 of the

Documentary evidence that the person is covered under Section 196 of

NIL

the Act along with self-attested copy of PAN card and SEBI registration

Act (e.g. Mutual Funds, RBI, Govt., etc.)

certificate needs to be submitted.

Table 2: Non-resident Bondholders:

Category of the

Tax Deduction Rate

Exemption applicability and documentation requirements

bondholder

Foreign

20% (plus surcharge

Self-attested copy of certificate of registration accorded under the relevant regulations of SEBI.

Institutional

and cess as

Investors, Foreign

applicable)

Portfolio Investors

OR

(FII, FPI)

Tax Treaty rate,

whichever is lower

Any Non-resident

20% (plus surcharge

Non-resident bondholders may opt for a tax rate under the Double Taxation Avoidance

bondholders

and

cess

as

Agreement ("Tax Treaty"). The Tax Treaty rate shall be applied for withholding the tax on

applicable) or

Tax

submission of the following documents to the company:

Treaty

rate,

whichever is lower

1.

Copy of Indian Tax Identification number (PAN), if available

2.

Self-attested copy of Tax Residency Certificate (TRC)

(for FY 2023-24 or calendar year 2023).

3.

In case where PAN is available Form 10F has to be executed in electronic mode from

Income Tax portal.

4.

Self-declaration confirming not having a Permanent Establishment in India and eligibility

to Tax Treaty benefit (for FY 2023-24 or calendar year 2023)

5. Self-declaration from Non-resident, primarily covering the following:

a.

of the said DTAA.

b.

I / we am / are entitled to claim the treaty benefits under DTAA between India and

wherever applicable.

c.

d.

Bond income is not attributable / effectively connected to any Permanent

Establishment (PE) or Fixed Base in India.

Tax shall be deducted at 20% (plus applicable surcharge and cess) in case any of the above-

mentioned documents are not provided.

Application of Tax Treaty rate shall depend upon the completeness of the documents

submitted by the non-resident bondholder and are in accordance with the provisions of the

Act.

Submitting

Rate

provided

in

Lower/NIL withholding tax certificate obtained from Income Tax authorities.

Order

under

the Order

section

197 of

the Act

Particulars

Applicable Rate

Action by the Company

Specified person/s under Section 206AB

Higher rate i.e.

twice the

The Company will verify the status (i.e., Specified person or

of the Act

applicable tax

deduction

not) from the government enabled online utility and deduct

rate

the TDS accordingly.