Communication to Shareholders on Tax Deduction at Source (TDS) / withholding tax on Dividend is attached.
ELECON · price
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Elecon Engineering Company has informed shareholders about the final dividend of Rs. 1.50 per equity share (150% on Re. 1 face value) recommended by the Board for FY 2025-26, subject to approval at the 66th AGM. The company has outlined TDS/withholding tax requirements under the Income Tax Act, 2025. For resident shareholders, TDS is 10% unless dividend does not exceed Rs. 10,000 or Form 121 is submitted. Non-resident shareholders face 20% withholding tax plus surcharge and cess. Shareholders must submit required documents (PAN, self-declarations, tax residency certificates, etc.) to MUFG Intime India Private Limited by June 12, 2026 to claim exemptions or lower tax rates.
The dividend of Rs. 1.50 per share provides positive return for shareholders, but they must ensure proper documentation is submitted before the June 12, 2026 deadline to avoid higher TDS deductions. Those without valid PAN or unlinked with Aadhaar will face TDS at twice the normal rate or 20%, whichever is higher.