PPAP Automotive Limited — Important, 18-11-2024: Updates

The Board of Directors has declared an interim dividend of ₹1 (10%) per equity share for FY 2024-25, payable within 30 days after declaration. According to the amended Income Tax Act, dividends distributed post April 1, 2020, are taxable for shareholders. The company will deduct tax at source based on applicable rates, influenced by each shareholder's status and documentation. For resident shareholders, no tax will be deducted if the total dividend does not exceed ₹5,000 for FY 2024-25. Important dates for submitting necessary documents for exemption or reduced tax rates have been set, and shareholders are urged to ensure compliance to facilitate timely payments. The transition to electronic payments for physical shareholders, effective April 1, 2024, emphasizes the need for updated bank details and KYC compliance. This strategic initiative highlights the company's readiness to adapt to regulatory changes, which may enhance shareholder trust and long-term commitment. Investors should keep a close watch on compliance issues as they could impact dividend processing.