Deduction of Tax at Source from the Final Dividend for the Financial Year Ended 31st March, 2025

The Board of Directors of the Company ('the Board') at the Meeting held on 23rd April, 2025, as you may be aware, have recommended Final Dividend of ₹ 5.50 per Equity Share of ₹ 10/- each for the financial year ended 31st March, 2025.

The Final Dividend, if declared at the 44th Annual General Meeting of the Company convened for 19th August, 2025, will be paid between 20th August, 2025 and 25th August, 2025.

Pursuant to the Income-tax Act, 1961, dividend income, as you are aware, is taxable in the hands of the shareholders, and the Company will be deducting tax at source (TDS), as applicable, from the dividend amount payable to you.

The tax rate would vary depending on the residential status, category of the shareholder and is subject to provision of requisite declarations / documents to the Company.

This communication is being sent, as a measure of investor servicing, to apprise you on the applicable provisions of TDS on dividend and other related matters.

I. Resident Shareholders

TDS will be deducted @ 10% on the amount of dividend payable where a valid Permanent Account Number (PAN) has been furnished by the resident shareholders to their respective Depository Participants (in case shares are held in dematerialised form) or to the Registrar and Share Transfer Agent (‘RTA’) (in case shares are held in certificate form).

TDS will be deducted @ 20% i.e. at twice the applicable rate on the amount of dividend payable where the resident shareholders:

1. have not furnished valid PAN; or
2. have not linked PAN with their Aadhaar, where applicable.

Such Resident Shareholders who are yet to furnish their PAN to their respective Depository Participants / RTA are therefore requested to do so immediately.

No TDS, however, will be deducted from dividend payable to:

(A) Individual Shareholders, if:-

• the amount of dividend payable by the Company during a financial year in the aggregate does not exceed ₹10,000/-, or
• their income is below the taxable limit and declaration is received by the Company from the shareholders in Form 15G (for individuals up to age of 60 years) or in Form 15H (for individuals above the age of 60 years).

Click here to download Form 15G
Click here to download Form 15H

(B) Insurance Companies, Mutual Funds and domestic Alternative Investment Funds, where documents complete in all respects are received by the Company from them.

Click here to view / download the documents required.

II. Non-Resident Shareholders

TDS will be deducted @ 20% (plus applicable surcharge and cess) or the Tax Treaty Rate, whichever is lower, on the amount of dividend payable to Foreign Portfolio Investors, Foreign Institutional Investors and other non-resident shareholders.

For availing the benefit of Tax Treaty Rate, the shareholders will be required to submit the following documents to the Company complete in all respects:

1. Self-attested Copy of Indian Tax Identification number (PAN), if available.
2. Self-attested copy of Tax Residency Certificate (TRC) (for FY 2025-26), valid as on the AGM date obtained from the tax authorities of the country of which the shareholder is tax resident.
3. E-filed Form 10F, for FY 2025-26 filed electronically on the Income Tax web portal.
4. A Self-declaration primarily covering the following:
   • that the non-resident shareholder is eligible to claim the benefit of the respective Tax Treaty in the financial year 2025-26;
   • that the non-resident shareholder receiving the dividend income is the beneficial owner of such income; and
   • that the dividend income is not attributable / effectively connected to any Permanent Establishment (PE) or Fixed Base in India during the financial year 2025-26.

   Click here to download the self-declaration format.

5. In case of shareholder being tax resident of Singapore, please furnish the letter issued by the competent authority or any other evidence demonstrating the non-applicability of Article 24 - Limitation of Relief under India-Singapore DTAA.

III. General instructions / information

1. Submission of Tax Exemption Forms / documents for availing the benefit of Tax Treaty Rate, as applicable, by 8th August, 2025
   The Tax Exemption Forms from resident shareholders and Forms & Documents from non-resident shareholders for availing the benefit of Tax Treaty Rate, as stated above, should be filled up and the completed signed Forms / documents are required to be sent to Investor_TH@ith.co.in / helpdeskdelhi@mcsregistrars.com within the stipulated time period.
   
   The consideration of the aforesaid documents, including application of beneficial Tax Treaty Rate, where applicable, will depend on the adequacy and completeness of such documents submitted by the shareholders and review of the same to the satisfaction of the Company.
   
   Documents received after 8th August, 2025 and / or incomplete documents will not be considered.
2. In the event the benefit of lower tax on dividend cannot be provided by the Company due to non-receipt / late receipt of the Tax Exemption Forms or the Forms & Documents, shareholders will still have an option to claim appropriate refund, if eligible, at the time of filing their income tax returns. No claim shall lie against the Company for taxes once deducted.
3. In the event the dividend income as on the Record Date, i.e. 1st August, 2025, is assessable to tax in the hands of a person other than the registered shareholder (viz., the shares are held by a clearing member, broker etc. on behalf of the actual beneficial owner), such registered shareholder (i.e. the said clearing member, broker etc.) is required to furnish to the Company on or before 8th August, 2025, a declaration containing the name, address, residential status and PAN of the actual beneficial owner to whom TDS credit is to be given, and reasons for giving credit to such person. No request in this regard will be considered by the Company after 8th August, 2025.
4. The TDS Certificate, if applicable, will be e-mailed to your registered e-mail address in due course of time, post payment of the aforesaid dividend.

Should you have any query or require any assistance in the matter, please do get in touch with the Company at Investor_TH@ith.co.in.

This communication should not be treated as a tax advice from the Company.