Pursuant to the Finance Act, 2020, with effect from April, 01, 2020, dividend income is taxable in the hands of the Shareholders. In view of the same, please find enclosed herewith an email ....
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Mafatlal Industries has informed shareholders that the Board, at its meeting on 13th May 2025, has recommended a final dividend of Rs 1.00 per equity share (on face value of Rs 2) for FY 2024-25, subject to approval at the 111th AGM on 4th August 2025. The record date for determining dividend entitlement is 25th July 2025. As per the Finance Act 2020, dividend income is taxable in the hands of shareholders, and the company will deduct tax at source (TDS) at applicable rates before paying out the dividend. Detailed TDS rates have been shared: 10% for resident shareholders with valid PAN, NIL for those with aggregate dividend up to Rs 10,000, 20% for those without PAN, and varying rates for non-residents, FIIs/FPIs, and other categories. Shareholders must submit relevant documents (PAN, Form 15G/15H, TRC, etc.) to the company's RTA KFin Technologies by 5 PM on 25th July 2025 to avoid higher TDS deduction.
This is a routine TDS compliance communication accompanying the already-recommended final dividend of Rs 1 per share. Shareholders should ensure their PAN and bank details are updated with their depository by 25th July 2025 to receive the correct dividend amount without excess tax deduction. No material impact on stock price is expected from this disclosure.