Balrampur Chini Mills Limited — Important, 19-11-2024: Updates

The Board of Directors of Balrampur Chini Mills Limited has approved an interim dividend of INR 3.00 per equity share for the Financial Year 2024-25. The record date for the dividend is set for November 25, 2024. Shareholders, particularly residents, benefiting from total dividends not exceeding INR 5,000 during the fiscal year, will not incur any tax deduction at source (TDS). However, withholding tax rates will vary based on the residential status and category of the shareholder, with rates ranging from 10% to 30%, depending on the validity of PAN and other documentation provided. Non-resident shareholders are subject to rates of 20% or the applicable tax treaty rate. Shareholders must ensure timely submission of required documents to the company or its registrar to apply for beneficial tax rates effectively. This update also emphasizes that any shareholder who does not submit the necessary documents by the deadline may face higher withholding rates on the dividend payout.