E-mail Communication to Shareholders- Intimation of Tax Deduction on Dividend
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Sky Industries Limited has emailed its shareholders about the tax deduction process on the final dividend for FY 2024-25. The Board, at its meeting on May 24, 2025, has recommended a dividend of Re. 1 per equity share (10%) on the face value of Rs. 10, subject to shareholder approval at the AGM on July 4, 2025. The communication explains TDS provisions: 10% TDS for resident shareholders with valid PAN, 20% for those without PAN or with PAN not linked to Aadhaar, and 20% (plus surcharge/cess) for non-resident shareholders, with DTAA benefits available subject to documentation. Shareholders must submit exemption-related documents (Form 15G/15H, PAN, TRC, etc.) to corporate@skycorp.in by June 28, 2025 to avoid higher TDS.
This is a procedural disclosure related to an already-recommended dividend — no new economic event for shareholders. Shareholders should ensure their PAN is linked with Aadhaar and submit required forms by June 28, 2025 to minimize TDS deduction. The stock price is unlikely to react materially as this is an administrative communication, not a change in dividend amount.