Enclosed herewith an e-mail communication which was sent to all the shareholders whose e-mail IDs were registered with the Company/Depository explaining the process on withholding tax from ....
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Benares Hotels Ltd has sent an email to all shareholders explaining the tax deduction at source (TDS) process for the final dividend of ₹25 per share (250% on ₹10 face value) recommended for FY 2024-25, subject to approval at the AGM on August 12, 2025. For resident shareholders, TDS will be 10% with a valid PAN or 20% without/invalid PAN; no TDS applies if total dividend during FY 2025-26 does not exceed ₹10,000 for a resident individual, or if valid Form 15G/15H is submitted. For non-resident shareholders, TDS is 20% (plus surcharge and cess) or the lower DTAA rate, subject to submission of documents like Tax Residency Certificate, e-filed Form 10F, and a self-declaration. Shareholders must submit required documents/declarations to the Registrar (MUFG Intime) by August 1, 2025, after which no revisions will be accepted.
This is a procedural TDS communication tied to the already-recommended ₹25 per share dividend and does not change the dividend amount or its approval status. Shareholders should ensure PAN-Aadhaar linkage and submit Form 15G/15H (for residents) or DTAA documents (for non-residents) before August 1, 2025 to avoid higher tax deduction; otherwise, refunds can be claimed only by filing an income tax return.