The dividend, as may be declared at the 24th AGM scheduled on 9th
June, 2023, will be payable subject to deduction of Tax at Source
(TDS) in accordance with the provisions of Income Tax Act, 1961 read
with the Finance Act, 2023 (together referred to as “the Act”)
applicable for the financial year 2023-24.
The Company shall deduct the tax at the rates specified in the Act,
and for this purpose will use the information of shareholders as per
data made available to the Company by National Securities Depository
Limited and Central Depository Services Limited (in case of share
held in demat mode) and the details recorded in the Register of
Members of the Company maintained by the Registrar and Share
Transfer agent of the Company i.e., KFin Technologies Limited
(RTA/KFintech) as on Friday, 2nd June, 2023, being the date as on
which the entitlement of shareholders for payment of dividend shall
be determined.
All Shareholders are requested to ensure that the details such as
PAN, residential status, category of Shareholder (e.g. Domestic
company, foreign company, Individual, Firm, LLP, HUF, Foreign
Portfolio Investor (FPI) Foreign Institutional Investor (FII),
Government, Trust, AIternate Investment Fund - Category I, II or
III, etc), bank account details, email id and postal address are
updated, in their respective demat account/s maintained with the
Depository Participants or in their respective folio by submitting
Form ISR-1 to RTA. For more details regarding updation of KYC please
visit https://www.mahindracie.com/investors/downloads/information-for-holders-of-physcial-securities.html.
Further, shareholders who intends to avail benefit of exemption/lower
tax deduction as may be available under the provisions of the Act
must submit necessary declaration along-with supporting documents,
as provided hereinbelow, on or before 5th June, 2023. The Company
has made available following modes through which the shareholders
may submit the self-declaration along-with necessary supporting
documents (self-attested):
Please note that, the aforesaid facility cannot be used to
update category of shareholders or updating/registering PAN or
other KYC details of the shareholders. For updating these
details, the shareholders must approach the Depository
Participant (in case of Demat Holding) or RTA (in case of
physical holding) by submitting the details on Form ISR 1
along-with supporting documents.
The aforesaid should be completed by the following dates:
| Sr. No. |
Date of shareholding
|
Last date to submit
details |
| 1. |
Shareholders holding shares as on
5th May, 2023 |
25th May, 2023 |
| 2. |
Shareholders acquiring shares
after 6th May, 2023 |
5th June, 2023 |
No communication on the tax determination / deduction shall be
entertained after 5th June, 2023.
We will send and detailed communication in this regard through email
to those shareholders whose email addresses are registered with the
Company as on 5th May, 2023. You may also refer Note. No.
30 of the Notice of AGM for more details.
In case of queries the members may refer the FAQ - TDS on Dividend
provided hereinbelow or you may write to einward.ris@kfintech.com
.
Further for your ready reference you may also download the FAQ’s and
relevant forms from the links provided below:
Disclaimer: The information set out herein above is included for
general information purposes only and does not constitute legal or
tax advice. Since, the tax consequences are dependent on facts and
circumstances of each case, the investors are advised to consult
their own tax consultant with respect to specific tax implications
arising out of receipt of dividend.