Nuvama Wealth Management Limited has informed the Exchange regarding 'Communication to the Equity Shareholders of the Company for Tax Deduction at Source (TDS)/Withholding Tax on Interim Dividend'.

Nuvama Wealth Management has sent a communication to its equity shareholders about the tax deduction rules applicable on the interim dividend that was declared earlier. The notice explains how Tax Deduction at Source (TDS) or withholding tax will be calculated and deducted from the dividend payouts as per the Income Tax Act. Shareholders are typically asked to submit relevant tax forms (such as Form 15G/15H) if eligible for exemption or lower deduction. The rate of TDS may vary depending on the shareholder's residential status and PAN availability. Shareholders need to review their tax position and act before the record date to avoid higher tax deduction.