Deduction of Tax at source on dividend - Shareholders Communication
Awaiting price reaction for this filing.
Grasim Industries has sent a communication to shareholders about how tax will be deducted at source (TDS) on the upcoming dividend. The Board recommended a dividend of ₹10 per equity share (face value ₹2) for FY 2024-25 at its 22nd May 2025 meeting, subject to shareholder approval at the 78th AGM. The record date/book closure will be announced separately. The letter details TDS rates — 10% for resident shareholders with valid PAN, 20% for non-residents or those without PAN, and nil for small dividends (under ₹10,000) or those submitting Form 15G/15H. Shareholders must submit relevant documents to the company's RTA (KFin Technologies) by 31st July 2025 to claim any exemptions or lower TDS rates.
This is a routine TDS compliance communication and not a new corporate action. Shareholders should ensure their PAN and bank details are updated with their depositories (or RTA for physical shares) and submit exemption forms before 31st July 2025 to avoid higher tax deduction on their dividend income.