Sundram Fasteners Limited has informed the Exchange regarding 'Communication to Shareholders on Deduction of Tax at Source on Second Interim Dividend for the Financial Year ended March 31, 2025 under relevant sections of the Income Tax Act, 1961.
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Sundram Fasteners has informed the exchange about the TDS communication sent to shareholders for the Second Interim Dividend of Rs 4.20 per share (420% on Re 1 face value) for the financial year ended March 31, 2025. The dividend was declared by the Board on April 30, 2025, with a record date of May 7, 2025, and payment commencing from May 21, 2025. TDS will be deducted at 10% for resident shareholders and 20% (plus surcharge and cess) for non-resident shareholders under the Income Tax Act, 1961. Shareholders must submit relevant documents (Form 15G/15H/10F, PAN, etc.) by May 10, 2025 to avail applicable exemptions or lower TDS rates.
This is a routine tax-compliance filing and does not change the dividend amount or affect shareholder value materially. Shareholders should ensure KYC and tax documents are submitted by May 10, 2025 to avoid excess TDS deduction, which can later be claimed as a refund via income tax return.