Tax on Dividend
Members are requested to note that pursuant to an amendment in the Finance Act, 2020, with effect from 1st April 2020, dividends declared by the Company will be taxed in the hands of the recipient of dividend i.e. shareholders. Hence, all dividends declared after 1st April 2020 by the Company will be paid to the members after deducting tax at the applicable rate of interest prescribed under the Income Tax Act, 1961.
Members may note that in case your PAN is not registered with us, the Company would be required to deduct tax at a higher rate of 20% on the dividend. Hence, members who have not furnished their PAN to the Company are requested to immediately submit a copy of their PAN to the Company.
Members seeking non-deduction of tax on their dividends may submit Form 15G/15H as applicable to the Company on a yearly basis.
The formats of Form 15G / Form 15H can be accessed through the links. Members may contact the Secretarial team in case of any clarification with respect to the dividends declared by the Company.
