CIE Automotive India Limited — Important, 08-04-2025: Updates

CIE Automotive India Limited has communicated important information regarding tax deduction at source (TDS) on dividends to shareholders via email. A dividend of ₹7 per equity share for the financial year ending December 31, 2024, is proposed, pending approval at the upcoming Annual General Meeting. This dividend will be subject to TDS as stipulated in the Income Tax Act, with specific provisions for resident and non-resident shareholders.

Shareholders must ensure their PAN and other relevant details are updated in their accounts to avoid higher tax deductions. For instance, TDS will be 10% if a valid PAN is provided, while failure to supply a PAN will result in a 20% deduction. Additionally, exemptions or lower TDS rates are available under certain conditions, such as for residents receiving dividends under ₹10,000.

The necessary documentation and self-declarations must be submitted by April 25, 2025, to facilitate proper TDS application. Failure to comply may lead to tax being deducted at a higher rate, emphasizing the importance of timely submissions. Shareholders are encouraged to consult tax advisors for tailored guidance on this process.