Geecee Ventures Limited has issued a communication to its shareholders regarding the deduction of tax at source on the dividend for the financial year 2025-26.

The Board of Directors, at its meeting held on May 16, 2026, recommended a final dividend of ₹2.00 per equity share of face value ₹10 each for the financial year ended March 31, 2026. This dividend payment is subject to approval by shareholders at the ensuing Annual General Meeting (AGM) scheduled for September 22, 2026.

Under the provisions of the Income Tax Act, 2025, the dividend distributed by the company will be taxable in the hands of shareholders. The company is required to deduct taxes at prescribed rates, which vary depending on the residential status of shareholders and documents submitted by them.

Key Requirements for Shareholders:

  • Shareholders must ensure their details are complete and updated with their Depository Participant (for demat holdings) or with the company's Registrar and Transfer Agent, MUFG Intime India Private Limited (for physical holdings)
  • Required details include: valid Permanent Account Number (PAN), residential status (Resident/Non-Resident), account category as per PAN, email/postal address, and bank account details
  • Documents must be submitted by Tuesday, September 8, 2026
  • Documents should be submitted online to geecee.investor@gcvl.in from registered email IDs only

TDS Rates for Resident Shareholders:

  • With valid PAN: 10% TDS (TDS not applicable if aggregate dividend does not exceed ₹10,000 for individual shareholders)
  • Without PAN/Invalid PAN: 20% TDS
  • Form 12I submission: NIL TDS for eligible residents (individuals with no tax liability or seniors above 60 with no tax liability)
  • Section 395 certificate: Rate provided in certificate
  • Insurance companies: NIL TDS (with PAN copy and IRDAI registration)
  • Mutual Funds: NIL TDS (with self-declaration and registration documents)
  • Alternative Investment Funds: NIL TDS (with self-declaration and SEBI registration)
  • NPS Trust: NIL TDS (with self-declaration and PAN)
  • Central Act corporations: NIL TDS (with self-declaration and registration documents)
  • Other exempt entities: NIL TDS (as per Section 393 or CBDT Circular 18/2017)

TDS Rates for Non-Resident Shareholders:

  • Foreign Institutional Investors (FIIs): 20% plus applicable surcharge and cess
  • Foreign Portfolio Investors (FPIs): Lower treaty rate if applicable documents provided
  • Other Non-Residents: 20% plus applicable surcharge and cess, or lower treaty rate with documents
  • Tax treaty benefit requires: PAN copy, Tax Residency Certificate for April 2026-March 2027, Form 41, and comprehensive self-declaration
  • Notified jurisdictional areas: 30% or higher rate as applicable
  • Section 395 certificate: Rate provided in certificate

Important Provisions:

  • Section 397(2): TDS at higher of applicable rate or 20% if PAN not furnished or invalid
  • Section 262: PAN becomes invalid/inoperative if not linked with Aadhaar, resulting in higher TDS
  • The company reserves the right to recover any subsequent tax demands arising from non-disclosure
  • For joint shareholders, the first-named shareholder must furnish documents
  • TDS application subject to verification of shareholder details as of Record Date: Monday, September 7, 2026
  • Shareholders can claim credit/refund through income tax return if higher TDS deducted
  • Shareholders indemnify company against any demands from misrepresentation
  • TDS credit will be available in Form 168 for shareholders with valid PAN

Disclaimer:

This communication is not tax advice, and shareholders should consult tax professionals for their specific tax matters.