Nuvama Wealth Management Limited has communicated with its equity shareholders regarding tax deductions on the interim dividend for the financial year 2025-26. The board declared an interim dividend of ₹70 per share. The company has outlined the necessary documentation required for resident and non-resident shareholders to ensure appropriate tax deduction at source (TDS).
Interim Dividend Details
The Board of Directors of Nuvama Wealth Management Limited has declared a 2nd interim dividend of ₹70 per equity share (face value of ₹10 each) for the financial year 2025-26. The record date for determining shareholder eligibility is Tuesday, November 11, 2025.
Tax Deduction at Source (TDS)
As per income tax regulations, dividends are taxable, and Nuvama is required to deduct tax at source (TDS) from dividend payments. The applicable TDS rate varies based on the shareholder’s residency status and the documents provided.
Resident Shareholder Guidelines
Tax will not be deducted if the total dividend paid during the financial year does not exceed ₹10,000. If it exceeds this amount, TDS will be applicable as follows:
- With PAN: TDS at 10% (Update PAN and residential status).
- Without PAN/Invalid PAN: TDS at 20%.
- Form 15G/15H: NIL (subject to eligibility).
Non-Resident Shareholder Guidelines
For non-resident shareholders, TDS is applicable at 20% (plus applicable surcharge and cess) or the tax treaty rate, whichever is lower. To apply the tax treaty rate, the following documents are needed:
- PAN (if available)
- Tax Residency Certificate (TRC)
- Form 10F (electronic format)
- Self-declaration covering tax residency.
Important Notes
Shareholders must update their bank account details to ensure timely dividend credit. Ensure all required documents are submitted to MUFG Intime India Private Limited by November 10, 2025, to facilitate accurate TDS determination.
The company is not obligated to apply beneficial Tax Treaty rates at the time of tax deduction; application depends on the completeness of documents submitted by the Non-Resident Shareholder and their review. Shareholders are advised to upload documents as soon as possible.
Source: BSE
