Dividend

Unpaid/Unclaimed dividend

The Dividend declared by the Company to its shareholders which remains unclaimed gets accumulated with the Company. The Ministry of Corporate Affairs (MCA) addressed the issue by introducing Section 125 of the Companies Act, 2013, thereby making it compulsory to deposit unclaimed dividend lying with the Companies for a period of seven years to the Investor Education and Protection Fund (IEPF), administered by the Central Government.

In terms of “Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016”, companies have to identify and upload details of unclaimed dividend on their website.

Accordingly, information is provided for the benefit of our shareholders.

Unpaid divided data as on 31st March, 2021
Unpaid Fractional Shares proceeds as on March 31, 2021
Transfer of shares to IEPF on April 2020
2017- 18 Unpaid & Unclaimed Fractional Shares Proceeds as on March 31, 2020
2012 – 13 Unpaid & Unclaimed Fractional Shares Proceeds transferred to IEPF
2012-13 Interim Dividend – Unpaid and Unclaimed transferred to IEPF
Transfer of shares to IEPF on May 2019
2011-12 Interim Dividend – Unpaid and Unclaimed transferred to IEPF
Letter of Undertaking
Details of Shareholders whose Shares proposed to be transferred to IEPF within 30 days from March 8, 2020
Transfer of Equity Shares of the Company to IEPF Suspense Account
Form 5 – Application to the Authority for claiming unpaid amounts & shares out of Investor Education &
        Protection Fund (IEPF)
Unclaimed & Unpaid Fractional Shares Proceeds as on March 31, 2019
Unclaimed & Unpaid dividend as on March 31, 2019
Unclaimed & Unpaid Interim dividend for the year 2016-17
Form 5 – Help
Details of unclaimed and unpaid amounts as on 5th August 2016
Unclaimed dividends as on 30th July 2013
Unclaimed Unpaid Sum of Interest on Matured Deposits Details 27 Jul 2011
Details of Unclaimed Unpaid Dividend Details 31.07.2012
EID Parry Form 5 INV 2012 Final
1135 Form5 INV
Details of Unclaimed and Unpaid Dividend of Investors
Investor wise details of unclaimed and unpaid amounts pertaining to 2008 – 09 Interim
Investor wise details of unclaimed and unpaid amounts pertaining to 2008 – 09 Final

TDS on Dividend

Members may note that by virtue of the amendment to Income Tax Act, 1961 (IT Act) vide Finance Act, 2020, dividends paid or distributed by the Company after April 01, 2020 shall be taxable in the hands of the shareholder. Therefore, the Company would be required to deduct taxes at the prescribed rates on the dividend paid to its shareholders w.e.f. 1st April 2020. The withholding tax rate would vary depending on the residential status of the shareholder and documents registered with the Company.

In order to enable the Company to determine the appropriate TDS rate as applicable, members are requested to submit the following documents in accordance with the provisions of the IT Act as detailed below:

A. RESIDENT SHAREHOLDERS:

1. Where Permanent Account Number (PAN) is available and has been furnished to the Company, tax shall be deducted at source @ 10% on the amount of Dividend in accordance with the provisions of Section 194 of the Income Tax Act, 1961.

2. Where PAN is not available/invalid/not submitted, tax shall be deducted at source @ 20% on the amount of Dividend as per Section 206AA of the Income Tax Act, 1961.

3. However, no TDS shall be deducted on the Dividend payable to a resident Individual shareholder if:

  • a. The total amount of dividend to be received by the shareholder during the financial year does not exceed Rs 5,000 (computed collectively if there are multiple folios with the same PAN Number); or
  • b. The shareholder submits duly signed Form 15G (applicable to any person other than a Company or a Firm) / Form 15H (applicable to an Individual above the age of 60 years), provided that the eligibility conditions are being met. You may download Form 15G / 15H from the links given below:
    Form 15G
    Form 15H
  • No tax will be withheld from Dividend to be paid to Mutual Funds and Category – I & II Alternate Investment Funds registered with SEBI. The Mutual Funds and Alternate Investment Funds shall, however, furnish the following documents to the Company’s RTA, KFin Technologies Private Limited.

  • a. Certified copy of SEBI Registration/CBDT notification;
  • b. Declaration that their income is exempt under Section 10 (23D) of the Income Tax Act, 1961 and therefore no TDS is required under Section 196 (iv) of the Income Tax Act, 1961.

  • B. NON-RESIDENT SHAREHOLDERS:
    For non-resident shareholders, taxes are required to be withheld in accordance with the provisions of Section 195 and other applicable sections of the IT Act, at the rates in force. The withholding tax shall be at the rate of 20% (plus applicable surcharge and cess) or as notified by the Government of India on the amount of dividend payable. However, as per Section 90 of the IT Act, non-resident shareholders have the option to be governed by the provisions of the Double Tax Avoidance Agreement (DTAA) between India and the country of tax residence of the member, if such DTAA provisions are more beneficial to the shareholder. For this purpose, i.e. to avail the benefits under the DTAA, non-resident shareholders will have to provide the following:
    – Self-attested copy of the PAN card allotted by the Indian Income Tax authorities.
    – Self-attested copy of Tax Residency Certificate (TRC) for the FY 2021-22 obtained from the revenue authorities of the country of tax residence.
    – Self-declaration in Form 10F (Click here to download Form 10F ).
    – Self-declaration for the financial year 2021-22 (Click here to download the self-declaration format), certifying the following:

  • • Shareholder is and will continue to remain a tax resident of the country of its residence during the Financial Year 2021-22
  • • Shareholder is eligible to claim the beneficial DTAA rate for the purposes of tax withholding on dividend declared by the Company
  • • Shareholder has no reason to believe that its claim for the benefits of the DTAA is impaired in any manner
  • • Shareholder is the ultimate beneficial owner of its shareholding in the Company and dividend receivable from the Company; and
  • • Shareholder does not have a taxable presence or a permanent establishment in India during the financial year 2021-22
  • – Any other documents as prescribed under the IT Act for lower withholding of taxes if applicable, duly attested by member.

    Please note that the application of beneficial DTAA rate at the time of tax deduction / withholding on Dividend shall depend upon the completeness and satisfactory review by the Company of the documents submitted by shareholder. In case of Foreign Institutional Investors / Foreign Portfolio Investors, tax will be deducted under Section 196D of the IT Act @ 20% (plus applicable surcharge and cess).

    C. SUBMISSION OF DOCUMENTS:
    Click here to submit the exemption forms online.
    The aforementioned documents can be sent to einward.ris@kfintech.com or investorservices@parry.murugappa.com. Members can also send the abovementioned documents to M/s. KFin Technologies Private Limited at Selenium Building, Tower-B, Plot No 31 & 32, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032, Telengana.