Maharashtra Scooters Limited has issued a communication to its shareholders regarding the Tax Deduction at Source (TDS) on interim dividends and the crucial process of updating bank account details. The company emphasized that while dividend income is taxable, shareholders can claim exemptions with proper documentation. Shareholders are urged to update their bank details with their Depository Participant or the RTA, KFin Technologies Ltd., to ensure timely and mandatory electronic dividend payments as per SEBI regulations.
Shareholder Communication on Interim Dividend and Bank Details
Maharashtra Scooters Limited has sent a detailed communication to all its shareholders who held shares as of September 11, 2026. This communication, sent on September 17, 2026, addresses two primary aspects: the Tax Deduction at Source (TDS) on interim dividends and the vital process of updating bank account details.
TDS on Interim Dividend Explained
The company highlighted the process and required documentation for shareholders seeking to claim exemption from TDS on their interim dividends. It was noted that, in accordance with the Income-tax Act, 2025, dividend income is taxable for shareholders, and Maharashtra Scooters Limited is obligated to deduct tax at source, where applicable.
Mandatory Bank Account Updates for Dividend Payments
Furthermore, shareholders are strongly urged to update their bank account details. This update is critical for those holding shares in dematerialized form and should be done through their Depository Participant. Shareholders with shares in physical form must update their details directly with the Company or its Registrar and Transfer Agent (RTA), KFin Technologies Ltd. The Company is mandated to pay dividends exclusively through electronic modes, a requirement stipulated under the SEBI Listing Regulations.
A specimen copy of the communication sent to shareholders can be accessed via the provided link: MSL TDS Communication.
Source: BSE
