Siemens Limited — Important, 16-12-2024: Updates

Siemens Limited has communicated an upcoming dividend of ₹12 per equity share for the financial year ending September 30, 2024, pending approval at the forthcoming Annual General Meeting (AGM). The Record Date for dividend eligibility will be announced later.

The company outlined that tax deduction at source (TDS) will apply upon payment of this dividend, following the Income-tax Act provisions. For resident members with valid PAN, TDS will be deducted at 10%, while a rate of 20% applies for those without a valid PAN or not linked to Aadhaar. Certain exemptions are available for specific resident individuals and non-individual members, provided they meet the necessary documentation criteria. Non-residents will face TDS at the rate of 20%, with potential for benefits under applicable tax treaties, subject to document verification by the company to ensure compliance with TDS regulations.

Investors are advised to submit any required tax-related documents by January 24, 2025, to facilitate accurate TDS determination. Failure to provide the necessary details could lead to higher withholding rates on dividends. This move may impact cash flows for shareholders, emphasizing the importance of timely compliance with documentation requirements.