Eveready Industries shares dividend tax deduction details for FY 2024-25. Shareholders must submit valid documents to avoid higher TDS.
Eveready Issues Important Tax Deduction Notice to Shareholders on Dividend
Kolkata, India – June 9, 2025:
Eveready Industries India Ltd (BSE: 531508), one of India’s top battery and lighting players, issued a significant communication to shareholders on tax deduction at source (TDS) on dividend distributions for the financial year 2024-25. The firm issued the official news through a stock exchange filing dated June 9, 2025.
The notification precedes the firm’s scheduled dividend payment, stressing adherence to the Income Tax Act, 1961. The shareholders are cautioned to note the TDS rates applicable and ensure on-time submission of necessary documents to preclude additional tax deductions.
What This Means for Shareholders
As per Section 194 of the Income Tax Act, any dividend paid by a domestic company to its shareholders is subject to TDS if the total dividend exceeds ₹5,000 in a financial year. For resident shareholders, the applicable TDS rate is:
- 10%: If a valid Permanent Account Number (PAN) is available and furnished.
- 20%: If PAN is not available or invalid.
For Non-Resident Shareholders (NRI), TDS will be deducted at rates as per the Income Tax Act or DTAA (Double Taxation Avoidance Agreement), whichever is beneficial, subject to submission of valid documents such as:
- Tax Residency Certificate (TRC)
- Form 10F
- No Permanent Establishment Declaration
Eveready has made it clear that shareholders intending to avail of lower TDS rates under DTAA must submit the required documents on or before the record date announced for the dividend.
How to Submit the Documents
Eveready Industries has partnered with its Registrar and Transfer Agent (RTA) to collect and verify the tax-related documentation. Shareholders can upload their documents via the online portal provided by the RTA. For physical shareholders, the documentation can be submitted by post or email to the RTA’s official address.
Key documents required (for applicable cases):
- Valid PAN copy
- Declaration in Form 15G/15H (if applicable)
- TRC and Form 10F (for NRIs or foreign shareholders)
- Self-attested bank account details
The company has emphasized that documents received after the cut-off date will not be considered, and higher TDS rates may be applied by default.
Key Takeaways for Investors
This news highlights the need for tax compliance in dividend income. As investors start considering post-tax returns more and more, explicit communication by companies such as Eveready provides clarity and confidence to investors to make wise investments.
While dividend income remains a favorite source of passive income, investors are advised to frequently update their PAN and KYC details with their Depository Participants (DP) or RTA.
Not doing so can result in over-tax deductions, which can only be obtained by filing a tax return for income — a procedure which can take months for refunds to go through.
About Eveready Industries India Ltd
Based in Kolkata, Eveready Industries has been a household brand in India for over four decades. Most famously known for its dry cell batteries and flashlights, the company has diversified its product line into lighting, electrical accessories, and appliances. Eveready still has a deep pan-India distribution network and is also listed on the Bombay Stock Exchange under the ticker 531508.
Conclusion
Eveready Industries’ proactive approach in informing shareholders about tax deduction norms aligns with best corporate governance practices. Shareholders are urged to check their registered emails and portals for further instructions and ensure all tax-related documents are submitted well in advance of the dividend record date.
For the official release, visit:
👉 BSE Link to Announcement
