Kolkata, January 28, 2025 – Coal India Limited (NSE: COALINDIA, BSE: 533278) has announced a second interim dividend of ₹5.60 per equity share for the financial year 2024-25, with a record date set for January 31, 2025. The company has also issued detailed guidelines on Tax Deduction at Source (TDS) applicable to shareholders receiving dividends.
Key Details of the Dividend Announcement
- Dividend Amount: ₹5.60 per share (Face value: ₹10 per share).
- Record Date: January 31, 2025.
- Applicable TDS Deductions: As per the Income Tax Act, 1961.
TDS Guidelines for Shareholders
Coal India will deduct TDS on dividends as per Sections 194, 195, and 196D of the Income Tax Act, depending on the shareholder category.For Resident Shareholders:
- TDS Rate: 10% if PAN is available.
- Exemptions:
- There is no tax if the total dividend income is below ₹5,000 per year.
- Submission of Form 15G/15H for eligible individuals.
- PAN not provided: 20% TDS deduction.
For Non-Resident Shareholders:
- TDS Rate: 20% + applicable surcharge & cess, or as per applicable tax treaty.
- Tax Treaty Benefits: Shareholders can avail of reduced TDS rates under Double Taxation Avoidance Agreements (DTAA) by submitting:
- Tax Residency Certificate (TRC)
- Form 10F
- Self-declaration on beneficial ownership
Important Compliance Dates
- The last Date for Submission of TDS Documents is February 3, 2025.
- TDS Deposits & Reporting: As per SEBI and CBDT guidelines.
Investor Advisory
Coal India has advised shareholders to update their PAN and bank details with their respective depository participants to ensure the smooth processing of dividends and avoid higher tax deductions.This dividend reflects Coal India’s continued commitment to shareholder returns amid the company’s strong financial performance and stable cash flows.