Maithan Alloys Limited has announced a dividend of ₹6 per equity share with a face value of ₹10 each for the financial year 2023-2024. The decision was made by the Board of Directors and will be presented for approval at the company’s 39th Annual General Meeting (AGM).
The Register of Members & Share Transfer Books will remain closed from September 21 to September 28, 2024, to determine the shareholders eligible for this dividend.
As per the Income Tax Act, 1961, the dividend will be taxable in the hands of shareholders, and the company will deduct tax at source (TDS) at the applicable rates. For non-resident shareholders, the tax rate will be 20%, plus surcharge and cess, unless they provide valid documents to avail benefits under the Double Tax Avoidance Agreement (DTAA). The company will process the dividend payout after deducting TDS as per the required provisions.
Shareholders who are entitled to TDS exemption must submit valid documents to the company for approval to ensure that no TDS is deducted on their dividend.
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