Welspun Corp informs shareholders about tax deduction at source (TDS) rules applicable on upcoming dividend payments. Read the full shareholder communication.
Welspun Corp Notifies Shareholders About Tax Deduction on Dividend for FY 2024-25
June 10, 2025 | Mumbai:
Welspun Corp Ltd (BSE: 532144), a world leader in the production of large diameter pipes, issued an official notice to shareholders regarding source deduction of tax (TDS) on dividend payments. This announcement is in accordance with the Income Tax Act, 1961, and aims for seamless payment processing of the dividend payments scheduled for the financial year 2024-25.
The communication, submitted under Regulation 30 of the SEBI (LODR) Regulations, 2015, specifies the compliance measures mandatory for shareholders to prevent unnecessary TDS deduction. The notice is published on the BSE India website and contains all the necessary documents and guidelines.
Key Highlights from the Announcement
According to the notice, any dividend declared by Welspun Corp will be subject to TDS as per applicable income tax rates. The company urges all shareholders to ensure their tax details are up to date in order to receive the correct dividend amount.
Here are the main takeaways from the communication:
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- TDS Applicability:
- Resident Shareholders: Dividend income above ₹5,000 in a financial year will attract TDS at 10%, provided PAN is available and valid.
- Non-Resident Shareholders: TDS will be deducted at 20% or the rate specified under the applicable tax treaty (DTAA), whichever is lower, subject to submission of relevant documents like Form 10F, Tax Residency Certificate (TRC), and declaration.
- Resident Shareholders: Dividend income above ₹5,000 in a financial year will attract TDS at 10%, provided PAN is available and valid.
- PAN and KYC Compliance:
Shareholders with invalid PAN or whose PAN is not mapped with Aadhaar (as required) will be subject to TDS at a higher rate of 20%. Welspun Corp advises all shareholders to ensure and update their KYC and PAN with their depository participant or registrar.
- Exemption Eligibility:
Some of the shareholders like insurance companies, mutual funds, and others exempted can escape TDS deduction by providing valid exemption certificates or Form 15G/15H within the designated time frame. - Document Submission Deadline:
The notice highlights that declarations, declaration forms, and proofs of exemptions should be filed electronically on or before the cut-off date for proper processing.
How to Submit Documents
Welspun Corp has made provisions for online submission of all TDS-related documents through its RTA (Registrar and Transfer Agent) portal. Shareholders are advised to upload the required forms well in advance of the record date to avoid last-minute issues.
For demat shareholders, the update also advises confirming email ID, mobile number, and bank account details through their DP (Depository Participant).
Implications for Shareholders
This announcement is part of Welspun Corp’s continued commitment to transparent corporate governance and smooth investor communication. By proactively notifying shareholders, the company ensures compliance with tax laws while minimizing disruptions in dividend disbursement.
Investors who fail to act on this notice may face higher tax deduction and delayed payouts. Hence, prompt submission of valid documents and correct tax details is highly recommended.
Where to Find the Full Notice
The official shareholder communication, along with supporting documentation, is available on BSE India’s website under the stock code 532144. The downloadable PDF contains all the statutory and procedural information regarding the dividend and TDS.
About Welspun Corp Ltd
Welspun Corp Ltd is the flagship entity of the Welspun Group, a globally reputed leader in high-quality line pipes and infrastructure solutions. It has manufacturing bases in India, the US, and Saudi Arabia and is a leading player in the energy and infrastructure sectors.
