Minda Corporation Limited — Important, 13-02-2025: Updates

The Company has declared an interim dividend of Rs. 0.50 per share (25%) on the equity shares for the financial year 2024-25. This dividend will be payable to shareholders holding shares as of the close of business hours on February 12, 2025, based on the beneficial ownership details provided by the Depositories.

In accordance with the Income Tax Act, dividends distributed after April 1, 2020, are subject to tax at source. Hence, the Company will withhold tax at prescribed rates based on shareholder residency status and documentation status. The rates vary; for resident shareholders, it is typically 10% with PAN or 20% without it, while non-resident shareholders will face a standard rate of 20% or the tax treaty rate if applicable. It is essential for shareholders to submit necessary documents by February 16, 2025, to determine the correct TDS rates.