Deduction of tax at source on dividend- Shareholders Communication
Awaiting price reaction for this filing.
Welspun Corp Limited has written to shareholders explaining the tax deduction at source (TDS) rules on its FY 2024-25 dividend of Rs. 5 per equity share (100% on face value of Rs. 5), recommended by the Board on May 28, 2025 and pending AGM approval. For resident shareholders with valid PAN, TDS will be 10% (20% without PAN), with no TDS if total dividend does not exceed Rs. 10,000 or if Form 15G/15H is submitted. Non-resident shareholders face 20% TDS plus applicable surcharge and cess, but can claim lower rates under the relevant Double Tax Avoidance Agreement by submitting TRC, Form 10F and other documents. Shareholders must submit all required declarations and exemption documents by June 30, 2025 to avoid higher withholding. Record date and book closure dates are yet to be announced.
This is a routine TDS procedural filing and should not move the stock price; it does, however, remind shareholders to file the right forms before June 30, 2025 to avoid excess tax being withheld on the Rs. 5 per share dividend.