Hind Rectifiers Limited Announces TDS Deduction on Dividend for FY 2023-24

Hind Rectifiers Limited has issued an important communication to its shareholders regarding the Tax Deduction at Source (TDS) on the final dividend for the financial year 2023-24. The company, through an email, detailed the TDS procedure and the dividend distribution, ensuring transparency and compliance with income tax regulations.

Key Points of the Communication:

Dividend Announcement and Eligibility

Hind Rectifiers Limited declared a dividend of Rs. 1.20 per equity share with a face value of Rs. 2 each, approved at the 66th Annual General Meeting held on August 1, 2024. The dividend is payable to shareholders whose names appeared in the Register of Members or the list of beneficial owners as on July 25, 2024.

TDS Deduction Details

• Threshold for TDS: No tax will be deducted if the total dividend paid during FY 2024-25 does not exceed INR 5,000 for resident individual shareholders.
• Higher TDS for Non-PAN Holders: Shareholders who have not updated their PAN with the company or depository, or have not provided the requisite declarations, will be subjected to a higher rate of TDS as per section 206AA of the Income Tax Act, 1961.

Important Steps for Shareholders

Shareholders are advised to:

• Verify the dividend credit in their bank accounts.
• Contact their bank in case of any issues with the credit.
• Reach out to Adroit Corporate Services Private Limited, the company's Registrar & Transfer Agent (RTA), for unresolved issues related to dividend payments.

Contact Information: For any queries related to dividend credit, shareholders should contact: Adroit Corporate Services Private Limited