INTELLECT DESIGN ARENA LIMITED

(CIN: L72900TN2011PLC080183)

 

Registered Office: No.244, Anna Salai, Thousand Lights, Chennai–600 006.

Corporate Office: Plot No.3/G-3, SIPCOT IT Park,

Siruseri, Chennai – 600 130

Email: company.secretary@intellectdesign.com Website: www.intellectdesign.com

Phone: 044– 6700 8000/Fax : 044-67008874

 

Dear Shareholder, 4th July, 2023

 

FOLIO_DP_CL_ID : IN30133021720442

 

NAME OF SHAREHOLDER :V.V.NARESH

Dear Member(s),

 

Hope this email finds you well and that you and your family are healthy and safe.

 

Members will be able to participate at the AGM through VC by using their login credentials on the portal of their Depository Participants

 

Members who are attending the AGM and have not cast their vote earlier, can vote on the resolutions during the AGM.

 

Tax Deducted at Source (“TDS”) on dividend and submission of forms, as applicable:

Pursuant to the Finance Act, 2020, w.e.f. April 1, 2020, the Company would be required to withhold taxes at the prescribed rates on the dividend paid to its shareholders. The withholding tax rate would vary depending on the residential status of the shareholder and the documents submitted by them and accepted by the Company.

 

Accordingly, the dividend will be paid after deducting the tax at source as follows:

 

Table 1: Resident Shareholders:


Category of the Shareholder

Tax Deduction Rate

Exemption applicability and documentation requirements

 

Any resident shareholder (with PAN)

10% *

 Update valid PAN if not already done with depositories (in case of shares held in Demat mode) and with the Company’s Registrar and Transfer Agents – Cameo Corporate Services Limited (in case of shares held in physical mode).
Any resident shareholder (without/invalid PAN) 20%* In case PAN is not linked with Aadhaar Number by 30th June, 2023, tax will be deducted at a higher rate of 20%.

Resident individuals submitting Form 15G/15H

NIL

 Declaration in Form No. 15G (applicable to any person other than a company or a firm)/Form 15H (applicable to an Individual who is 60 years and older), fulfilling certain conditions. Please download Form 15G/15H from the Income Tax website www.incometaxindia.gov.in
Order under Section 197 of the Income-tax Act, 1961 (“Act”) Rate provided in the order Lower/NIL withholding tax certificate obtained from Income Tax authorities.
Insurance Companies: Public and Other Insurance Companies NIL Documentary evidence that the provisions of Section 194 of the Act are not applicable.


Persons covered under Section 196 of the Act (e.g. Mutual Funds, Business Trust, Alternative Investment fund, Govt. etc.)

 

NIL

Documentary evidence that the person is covered under Section 196 of the Act.

 

* Notwithstanding the above, tax would not be deducted on payment of dividend to resident Individual shareholder, if total dividend to be paid in FY 2023-24 does not exceed ₹5,000.

 

Table 2: Non-resident Shareholders:


Category of the Shareholder

Tax Deduction Rate

Exemption applicability and documentation requirements


Any Non-resident shareholder, Foreign Institutional Investors, Foreign Portfolio Investors (FII, FPI)

20% (plus surcharge and education cess as applicable)/Tax Treaty rate, whichever is lower

Non-resident shareholders may opt for a tax rate under the Double Taxation Avoidance Agreement (“Tax Treaty”). The Tax Treaty rate shall be applied for withholding the tax on submission of the following documents to the company:

 

  1. Copy of Indian Tax Identification number (PAN), if available
  2. Self-attested copy of Tax Residency Certificate (TRC) (for FY 2023-24 or calendar year 2023), valid as on the AGM date obtained from the tax authorities of the country of which the shareholder is tax resident
  3. Self-declaration in Form 10F if PAN is not available. In case where PAN is available Form 10F has to be executed in electronic mode from Income tax portal.
  4. Self-declaration confirming not having a Permanent Establishment in India and eligibility to Tax Treaty benefit (for FY 2023-24 or calendar year 2023)

 

Tax shall be deducted at 20% (plus applicable surcharge and education cess) in case any of the above-mentioned documents are not provided.

 

Application of Tax Treaty rate shall depend upon the completeness of the documents submitted by the

non-resident shareholder and are in accordance with the provisions of the Act.


Submitting Order under section 197 of the Act

Rate provided in the Order

Lower/NIL withholding tax certificate obtained from Income Tax authorities.

 

Table 3: Section 206AB of the Act applicable to all shareholders:


Particulars

Applicable Rate

Action by the Company


Specified person/s under Section 206AB of the Act

Higher rate i.e. twice the applicable tax deduction rate

The Company will verify the status (i.e., Specified person or not) from the government enabled online utility and deduct the TDS accordingly.

 

Thanking you and assuring our best services at all times.

 

Yours truly,

for Intellect Design Arena Limited,

 

V V Naresh

Company Secretary and Compliance Officer