Dhampur Sugar Mills Limited has informed the Exchange regarding 'Deduction of tax at source on buyback of Equity Shares by Dhampur Sugar Mills Limited'.
DHAMPURSUG · price
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Dhampur Sugar Mills has informed shareholders about the tax deduction rules for its ongoing share buyback. The Board, on May 16, 2025, approved buyback of up to 10,81,081 equity shares of Rs. 10 face value. The record date for eligibility is fixed as May 23, 2025, and shareholders must submit tax-related documents by May 30, 2025. Following tax law changes from October 1, 2024, the tax liability on buyback proceeds has shifted from the company to shareholders. Resident shareholders will face 10% TDS if they provide a valid PAN linked with Aadhaar, or 20% if PAN is missing or unlinked. Non-resident shareholders face 20% TDS (or 30% if from notified jurisdictional areas), plus applicable surcharge and cess. Exemptions apply for insurance companies, mutual funds, Category I/II AIFs, and resident individuals receiving less than Rs. 10,000 in buyback consideration.
Shareholders should submit required documents (PAN, Aadhaar-linked PAN, exemption forms like 15G/15H) by May 30 to avoid higher TDS deduction. Eligible shareholders holding shares as of May 23 record date can participate in the buyback, but should consult a tax advisor as entire proceeds are taxable as dividend income with no deductions allowed.