Are you a Tata Motors American Depositary Shares (ADS) holder wondering how to reclaim Indian withholding taxes after the ADR facility termination? You’re not alone! Let us help you navigate this process smoothly and get your rightful tax refund with ease.

Background of Tata Motors ADR Termination

On January 23, 2023, Tata Motors Limited officially terminated its ADR facility, with Citibank, N.A. acting as the depositary. As part of this termination, holders of Tata Motors ADSs had until July 24, 2023, to surrender their ADSs and exchange them for corresponding shares in India.

Post this deadline, any remaining shares were sold, with the proceeds subject to Indian withholding taxes of 43.68% — a significant sum that many investors are now eager to reclaim. At Dinesh Aarjav & Associates, we specialize in ensuring that international investors get their due refunds, helping them navigate the often confusing landscape of Indian tax laws.

Why Was Tax Withheld on Tata Motors ADSs?

The Indian Income Tax Act, 1961, mandates that taxes be withheld on proceeds from the sale of Indian securities, including Tata Motors ADSs. Citibank, as the depositary, was required to withhold the highest applicable rate of 43.68%, assuming non-resident status for ADS holders. The good news? Eligible ADS holders can reclaim a significant portion of these taxes!

This tax reclaim process is not automatic, and many investors miss out on claiming their refunds simply due to lack of awareness or understanding of the required steps. That’s where we come in — to ensure you get what you rightfully deserve.

How to Reclaim Indian Withholding Tax on Tata Motors ADSs

If you’ve received sale proceeds from Tata Motors ADSs, you may be eligible to reclaim the Indian taxes withheld. With expert NRI taxation services, here’s a comprehensive guide to help you through the process smoothly and efficiently.:

1. Gather Required Documents

To initiate the tax reclaim process, you’ll need:

• Declaration of Ownership: A declaration from the end beneficial investor confirming ownership and eligibility.
• Confirmation Letters: Official confirmation from your DTC participant and broker, showing the number of Tata Motors ADSs you held at termination.
• Indian Permanent Account Number (PAN): This is mandatory for tax credit claims.
• Financial Statements: Bank and brokerage account statements reflecting receipt of net USD proceeds from the Tata Motors ADS sale.

✅ Don’t have a PAN? No worries — we can assist with PAN acquisition as part of our reclaim service!

2. Submit Your Documents to Us

At Dinesh Aarjav & Associates, we’ve streamlined the entire tax reclaim process for Tata Motors ADS holders. Simply provide us with the required documents, and we will:

• Collate and Review: Carefully review your paperwork to ensure all requirements are met.
• Coordinate with Indian Tax Authorities: File the necessary claims with the Indian Income Tax Department.
• Ensure Tax Credit Transfer: Facilitate the transfer of the tax credit into your name.
• Handle Follow-ups: Provide consistent follow-ups to expedite your refund.
• Resolve Queries: Address any questions or concerns raised by the Indian tax authorities.
• Track Refund Status: Monitor your refund application and keep you informed at every stage of the process.

✨ We manage the heavy lifting, so you can focus on what matters most — your investments.

Why Choose Dinesh Aarjav & Associates?

As one of India’s most trusted financial advisory firms, we specialize in helping non-resident investors, including Tata Motors ADS holders, reclaim their Indian withholding taxes. Here’s why our clients trust us:

✅ Expertise in Indian Tax Laws: Our team stays up-to-date with the latest tax regulations to ensure smooth and accurate filings.

✅ Personalized Service: Every investor’s situation is unique, and we tailor our approach to maximize your refund.

✅ Global Reach: We work with clients across the world, providing seamless communication and support.

✅ Timely Refunds: Our streamlined process and proactive follow-ups ensure you get your money back as soon as possible.

✅ End-to-End Support: From PAN acquisition to tax credit transfer, we handle it all, offering you peace of mind and a hassle-free experience.

Don’t Leave Money on the Table — Claim Your Refund Today!

Thousands of Tata Motors ADS holders may be entitled to substantial tax refunds. Don’t navigate this complex process alone — let Dinesh Aarjav & Associates help you recover your hard-earned money efficiently and accurately.

📞 Contact us today! Let’s work together to reclaim your Indian withholding tax and maximize your NRI investment in India returns.