ICICI Lombard General Insurance Company Limited has informed the Exchange about "Communication sent to shareholders regarding Tax Deduction at Source (TDS)"
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ICICI Lombard has sent an email communication to shareholders explaining the TDS (Tax Deduction at Source) process for the final dividend of ₹7 per equity share (70% of face value) recommended by the Board on April 15, 2025 for FY ending March 31, 2025, subject to AGM approval. For resident shareholders, TDS will be deducted at 10%, rising to 20% if PAN is not provided or is inoperative; non-resident shareholders will face 20% TDS or the applicable tax treaty rate, whichever is lower. The record date for determining eligible shareholders is June 6, 2025, and shareholders must submit relevant documents (Form 15G/15H for residents, Form 10F and TRC for non-residents) to KFin Technologies (the RTA) by June 13, 2025 to claim exemptions or lower TDS. Shareholders in physical form should update details with KFintech, while demat holders should update details with their Depository Participants.
Shareholders need to submit the required tax exemption documents to KFintech by June 13, 2025 to avoid higher TDS deduction on their dividend. Those who fail to provide valid PAN or exemption forms may face a higher 20% TDS, though they can claim refunds later by filing their income tax returns.