eClerx to Deduct TDS on Final Dividend of Re. 1 Per Share
eClerx Services Ltd announced that it will deduct tax at source (TDS) on the final dividend of Re. 1 per equity share, as recommended by the Board of Directors. This dividend is subject to approval at the 26th Annual General Meeting. The dividend will be paid on or after April 1, 2020, and is taxable in the hands of shareholders as per the Income-tax Act, 1961. Shareholders are urged to ensure their PAN, residential status, and bank details are updated to facilitate correct TDS deduction, which may vary based on residential status and submitted documentation. For resident individuals, TDS is 10% unless the aggregate dividend does not exceed Rs. 10,000. Specific documentation is required for non-individual resident shareholders to avail nil or lower tax deduction.
Key Highlights
- TDS will be deducted on the proposed Re. 1 per equity share final dividend.
- Shareholders must update their PAN and residential status for correct TDS.
- TDS rates vary for resident and non-resident shareholders.
- Resident individuals may be exempt if dividend income is below Rs. 10,000.
- Specific documentation needed for non-individual resident shareholders to claim lower TDS.
Price Impact
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