Sundram Fasteners Limited has announced the declaration of an interim dividend of ₹4.05 per share for the financial year ending March 31, 2027. The dividend will be paid on November 23, 2026, to eligible shareholders. The company has also detailed the Tax Deduction at Source (TDS) provisions applicable to this dividend, outlining requirements for shareholders to update their details to ensure correct TDS application.
Interim Dividend Announcement
Sundram Fasteners Limited’s Board of Directors, in a meeting held on October 28, 2026, has approved the payment of an interim dividend. The dividend is set at ₹4.05 per share, representing 405% of the face value of Re 1/- each, for the financial year ending March 31, 2027.
Payment Date and Record Date
The interim dividend is scheduled to be paid on November 23, 2026. Eligibility for this dividend is determined by the names appearing on the Company’s Register of Members as of November 6, 2026, after considering all valid transmission or transposition requests lodged by the closing hours of that day. For shares held in demat form, the record date is also November 6, 2026, based on the list furnished by NSDL/CDSL.
Tax Deduction at Source (TDS) Details
In compliance with the Income-Tax Act, 2025, the company is required to deduct Tax at Source (TDS) on the dividend payments. The TDS rate will vary based on the shareholder’s residential status and category.
Shareholder Information Update
Shareholders are urged to ensure their details, including Valid Permanent Account Number (PAN), Bank Account details, Residential Status, Shareholder Category, Email Address, and Residential Address, are up-to-date with the company or its Registrar and Transfer Agent (RTA). Updates can be made via the provided link: https://ipostatus.integratedregistry.in/KYCRegister.aspx.
TDS Provisions for Resident Shareholders
The document outlines specific TDS requirements and exemptions for various categories of resident shareholders. For instance:
- Mutual Funds, Insurance Companies, Investment Funds, Provident Funds, Superannuation Funds, and Gratuity Funds may be exempt from TDS under specified conditions, provided relevant documentation is submitted.
- National Pension Scheme holders are exempt from TDS as per Section 393(9) of the Act.
- Government (Central/State) entities are exempt from TDS as per Section 393(5)(a) of the Act.
- Other resident shareholders are generally subject to a 10% TDS rate, with no TDS required if aggregate dividend distribution does not exceed ₹10,000/- in the financial year. Specific forms like Form 121 [earlier Form 15G / 15H] can be used for exemption if applicable.
TDS Provisions for Non-Resident Shareholders
For non-resident shareholders, TDS is generally deducted at 20% or at rates prescribed by the Finance Act. Shareholders may opt for beneficial Double Tax Avoidance Treaty (DTAA) rates by providing necessary documentation, including a PAN, Tax Residency Certificate, and a self-declaration (Online Form 41). Any entity entitled to exemption must submit valid documentary evidence.
Important Notes
All shareholders are advised to consult their tax advisors for specific implications. The company notes that in the absence of required details or documents, TDS may be deducted at a higher rate, with an option for shareholders to claim a refund via their income tax return.
Shareholders holding shares in physical form must provide updated details for payment via electronic mode only. For those in demat form, ensuring core banking account details are updated with their Depository Participant (DP) is crucial for timely dividend credit.
Source: BSE
