Pilani Investment and Industries Corporation Limited has informed the Exchange regarding 'Communication To Shareholders For TDS Deduction On Dividend'.
PILANIINVS · price
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Awaiting price reaction for this filing.
The company has written to shareholders about tax deduction at source (TDS) on its recently declared dividend of Rs. 15 per equity share (150% on the Rs. 10 face value) for FY ending March 2025, which is still subject to shareholder approval at the upcoming AGM. The communication explains the applicable TDS rates: 10% for resident shareholders with a valid PAN, 20% for those without PAN, and varying rates of 20%–40% plus surcharge/cess for non-resident shareholders. Shareholders can avoid or lower TDS by submitting Form 15G (individuals), Form 15H (senior citizens), tax residency certificates, or a lower/NIL withholding certificate. The deadline to submit these documents is 23rd June 2025, and dividend will be paid only electronically via bank accounts linked with depositories.
This is a routine tax-compliance communication linked to the FY25 dividend, not a new corporate action. Shareholders should ensure their PAN is updated and submit the relevant forms before 23rd June 2025 to avoid excess TDS; the filing itself is unlikely to move the stock price.