Pursuant to provisions of the Income Tax Act, 1961, as amended by the Finance Act 2020, dividends paid or distributed by a company on or after 1st April, 2020 shall be taxable in the hands of the shareholders. In this regard, PPAP Automotive has informed that it enclosed an e-mail communication sent to the shareholders of the company on Monday, 22nd August, 2022, stating the documents/declarations to be submitted by the shareholders to determine and deduct appropriate TDS/withholding tax rate on dividend, if declared in the 27th annual general meeting. All the documents/declarations should be submitted by the shareholders on or before Wednesday, 14th September, 2022 in order to enable the Company to determine and deduct appropriate TDS/withholding tax rate as applicable.
The above information is a part of company’s filings submitted to BSE.
