April 22, 2022
Ref: SEC/MFL/SE/2022/4308 | |
National Stock Exchange of India Ltd. | Department of Corporate Services |
Exchange Plaza, | BSE Limited, |
Plot no. C/1, G Block, | P. J. Tower, Dalal Street, |
Bandra-Kurla Complex, | Mumbai - 400 001 |
Bandra (E), Mumbai - 400 051 | Scrip Code: 533398 |
Symbol: MUTHOOTFIN | |
Dear Sir/Madam, |
Sub: Communication to the Shareholders regarding Tax Deduction at Source on Dividend
Please find enclosed herewith an email communication which has been sent to all the shareholders having their email ID's registered with the depositories, w.r.t. Tax Deduction at source on Dividend and the process to be followed, along with the link to submit the necessary documents/ Forms. Kindly take the above information on your record.
Thanking You,
For Muthoot Finance Limited
Rajesh A
Company Secretary
ICSI Membership No. FCS 7106
Registered Office: 2nd Floor, Muthoot Chambers,
Opposite Saritha Theatre Complex, Banerji Road, Kochi 682 018, India.
Tel: (+91 484) 239 4712; Fax: (+91 484) 239 6506;
Website:www.muthootfinance.com;
Email:cs@muthootgroup.com
April 20, 2022
Dear Shareholder,
Sub: Communication on Tax Deduction at Source (TDS) on Payment of Dividend
We are pleased to inform that the Board of Directors of Muthoot Finance Limited at their meeting held on April 18, 2022, has declared an interim dividend of Rs. 20/- per equity share for the financial year 2021-22. The Interim Dividend of Rs. 20/- per equity share will be paid to the shareholders on the basis of the details of beneficial ownership furnished by the Depositories and in respect of shares held in Physical form to those Members whose names will appear on the Register of Members of the Company as on the close of business hours on Tuesday, April 26, 2022.
In accordance with the provisions of the Income Tax Act, 1961, the Company would be required to apply withholding tax / deduct taxes at source (TDS) at the prescribed rates on the dividend paid to its shareholders. The withholding tax rate would vary depending on the residential status of the shareholder and the documents submitted by them and as acceptable to the Company.
This communication summarizes the applicable TDS provisions in accordance with the provisions of the Income Tax Act, 1961, for various categories, including Resident or Non-Resident members.
1. Resident Shareholders:
Sl. N o | Particulars | Rate | Documents Required |
No TDS shall be deducted in the case of resident individual members, if the amount of such dividend in aggregate paid or likely to be paid during the Financial year does not exceed Rs. 5,000. | Nil | NA | |
Shareholders With PAN | 10% | Update/Verify the PAN, and the residential status as per Income Tax Act, 1961 if not already done, with the depositories (in case of shares held in demat mode) and with the Company's Registrar | |
and Transfer Agents i.e. Link Intime India Private Limited (in case of shares held in physical mode). The PAN can be submitted online by clicking on the following link:https://linkintime.co.in/EmailReg/Email_Register.html | |||
Shareholder without PAN/Invalid PAN | 20% | NA | |
Shareholder Submitting Form 15G/ Form 15H | Nil | Declaration in Form 15G (for individuals, with no tax liability on total income and income not exceeding maximum amount which is not chargeable to tax) / Form 15H (for individual above the age of 60 years with no tax liability on total income) for the FY 2022-23. For claiming exemptions, the said forms can be submitted online by clicking on the following link:https://linkintime.co.in/formsreg/submission-of-form-15g-15h.html | |
Shareholder submitting order under Section 197 of the Income Tax Act, 1961 (Act) | Rate provided in the order | Lower/NIL withholding tax certificate for the FY 2022-23 obtained from tax authority to be submitted to claim the lower tax rates. The said certificate can be submitted online by clicking on the following link:https://linkintime.co.in/formsreg/submission-of-form-15g-15h.html | |
Mutual Fund specified under clause (23D) of Section 10 of the Income Tax Act, 1961 | 10% / NIL (if document s are filed) | Self-declaration that they are specified and covered under Section 10 (23D) of the Income Tax Act, 1961 along with self-attested copy of PAN and registration certificate received from SEBI. The required documents can be submitted online by clicking on the following link:https://linkintime.co.in/formsreg/submission-of-form-15g-15h.html | |
An Insurance Company exempt ed under Section 194 of the Income Tax Act, 1961 | 10 % / NIL (if document s are filed) | Self-declaration that it has full beneficial interest with respect to the shares owned by it and documentary evidence that the provisions of section 194 of the Act are not applicable to them along with Self-attested PAN. The required documents can be submitted online by clicking on the following link:https://linkintime.co.in/formsreg/submission-of-form-15g-15h.html | |
Alternative Investment Fund (AIF) established in India | Nil | Documentary evidence (self-attested copy of PAN and registration certificate received from SEBI) to prove that Investment Fund is a fund as defined in clause (a) of the Explanation 1 of section 115UB of the Act and Declaration that its Dividend Income is exempt under Section 10 (23FBA)of the | |
Act. The required documents can be submitted online by clicking on the following link:https://linkintime.co.in/formsreg/submission-of-form-15g-15h.html | |||
Section 206AB - Special provision for deduction of tax at source for non-filers of income-tax return | 20% | A person who has not furnished the return of income for the financial year 2020-21 and the aggregate of tax deducted at source and tax collected at source in his case is rupees fifty thousand or more in the said financial year. |
2. For Non-resident shareholders
Sl. No | Particulars | Rate | Documents Required |
a) | Non-resident shareholders (including Foreign Institutional Investors (FIIs) / Foreign Portfolio Investors (FPIs) Investors (FPIs)) | 20% (plus applicable surcharge and cess) OR Tax Treaty Rate (whichever is lower, provided documents are received) | Update/Verify the PAN and the residential status as per Income Tax Act, 1961, if not already done, with the depositories (in case of shares held in demat mode) and with the Company's Registrar and Transfer Agents i.e. Link Intime India Private Limited (in case of shares held in physical mode). In order to apply the Tax Treaty rate, ALL the following documents would be required:
The required documents can be submitted online by clicking on the following link:https://linkintime.co.in/formsreg/submission-of-form-15g-15h.html |
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