Intimation on Tax Deduction at Source (TDS)/Withholding Tax on Dividend for FY 2024-25

ICICI Bank has communicated the TDS rules that will apply to its final dividend of ₹11 per share (550% on face value of ₹2) for FY 2024-25, as recommended by the Board on April 19, 2025 and pending shareholder approval at the AGM on August 30, 2025. The record date for eligibility is August 12, 2025. For resident shareholders, TDS will be 10% on the dividend amount, rising to 20% if PAN is missing or PAN-Aadhaar is not linked; no TDS applies if total dividend is below ₹10,000 per year or if valid Form 15G/15H is submitted. Non-resident shareholders will face 20% TDS (or lower rate under applicable tax treaties), with FIIs/FPIs taxed at 20% or treaty rate, and the Bank requiring documents like PAN, Tax Residency Certificate, and Form 10F by August 12, 2025. Shareholders must update PAN, bank, and contact details with KFin Technologies (for physical shares) or their depository participant (for demat shares) before the deadline to avoid higher deductions.