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Awaiting price reaction for this filing.
Valiant Communications has written to shareholders explaining the tax deduction process for the dividend recommended by the Board. The Board, at its May 30, 2025 meeting, had recommended a dividend of Rs. 1.50 per equity share (15% on face value of Rs. 10) for FY ending March 31, 2025, subject to shareholder approval at the AGM on September 30, 2025. As per the Income Tax Act, dividends paid on or after April 1, 2020 are taxable in shareholders' hands, and the company will deduct tax at source. The standard TDS rate is 10% for resident shareholders (20% if PAN is absent or invalid, or PAN-Aadhaar not linked) and 20% or applicable tax treaty rate for non-resident shareholders. Shareholders must submit required documents such as PAN, Form 15G/15H, or tax residency certificates to MUFG Intime (the RTA) by September 9, 2025 to avoid higher tax deduction.
This is a routine procedural communication ahead of the AGM and does not change the dividend amount. Shareholders who want lower or zero TDS must submit the relevant forms (15G/15H, PAN, Aadhaar linking) before the September 9, 2025 deadline. No direct material impact on the stock price is expected from this filing.