Fortis Healthcare Limited, a leading healthcare provider in India, has issued detailed information to its shareholders regarding the tax deduction at source (TDS) that will be applicable to the proposed dividend of ₹1 per equity share for the financial year 2023-24.
The dividend, if approved at the company's 28th Annual General Meeting (AGM) scheduled for August 2nd, 2024, will be subject to TDS as per the Income Tax Act, 1961. The company has emphasized the importance of shareholders updating their PAN, residential status, shareholder category, bank account details, email ID, and postal address to ensure accurate tax calculation and timely dividend payment.
Fortis Healthcare has provided specific instructions for both resident and non-resident shareholders, including details on applicable TDS rates, exemptions, and the submission of relevant forms and declarations. Shareholders who wish to avail themselves of lower tax deductions or exemptions are encouraged to submit the necessary documents by July 24th, 2024.
The company has also highlighted the importance of linking PAN with Aadhaar and providing a valid Tax Residency Certificate (TRC) for non-resident shareholders. It has clarified that incomplete or unsigned forms and documents will not be considered for exemption from TDS.
Fortis Healthcare has emphasized that this communication is for informational purposes only and does not constitute legal or tax advice. Shareholders are encouraged to consult their tax advisors for specific guidance on the tax implications of receiving dividends.
Leave a comment