3M India Limited has informed the Exchange about Communication on Tax Deduction on Dividend
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3M India has informed the stock exchanges about its TDS communication to shareholders regarding the recommended dividend for FY 2024-25. The Board, at its May 28, 2025 meeting, recommended a Final Dividend of Rs. 160 and a Special Dividend of Rs. 375 per equity share (face value Rs. 10), totaling Rs. 535 per share. The record date is July 25, 2025, and the 38th AGM is scheduled for August 26, 2025, with dividend payment within 30 days of the AGM. The communication outlines TDS rates: 10% for resident shareholders with valid PAN, 20% for those with no/invalid PAN, and varied rates for non-residents (20% plus surcharge/cess or treaty rate). Shareholders must submit required declarations (Form 15G/15H, TRC, Form 10F, etc.) by July 31, 2025, to avail lower or nil TDS rates.
The combined dividend of Rs. 535 per share is a significant payout and is positive for shareholders, though TDS will apply as per applicable rates. Shareholders should submit the required documents before the July 31, 2025 deadline to avoid higher tax deduction on their dividend income.