Cochin Shipyard Limited — Important, 12-11-2024: Updates

Cochin Shipyard Limited has declared its first interim dividend of ₹4.00 per equity share for the financial year 2024-25. The record date for this dividend is set for November 20, 2024. Shareholders should be aware that with the implementation of the Finance Act, 2020, dividends will be taxable in their hands, and the company will deduct tax at source (TDS) as per the Income Tax Act provisions. For resident shareholders, TDS may not apply if their total dividends do not exceed ₹5,000 during the financial year. Individual shareholders can avoid TDS by submitting Form 15G or 15H, and specific rates will apply for other categories. Non-resident shareholders will have tax deducted according to Section 195, generally at a rate of 20%. Shareholders are encouraged to link their PAN with Aadhaar and submit necessary documents by November 20, 2024, through the company’s RTA portal to avail tax benefits.