Pursuant to the Finance Act, 2020 with effect from April 01, 2020, the Dividend Distribution Tax is abolished and dividend income is taxable in the hands of the Shareholders, Sundram Fasteners has informed that it enclosed a communication which has been sent to all the shareholders on Tuesday, May 11, 2021 explaining the process on withholding tax from dividend paid to the Shareholders at prescribed rates.
The above information is a part of company’s filings submitted to BSE.