Coral Laboratories: Communication To Shareholders - Intimation On Tax Deduction On Dividend

Dear Sir/Madam This is regarding payment of Dividend for the Financial Year 2023-24 to eligible shareholders of Coral Laboratories Limited (the Company) if declared at the forthcoming Annual General Meeting (AGM).Pursuant to the provisions of the Income Tax Act 1961 and the rules framed thereunder as amended by the Finance Act 2020 with effect from April 1 2020 the Dividend Distribution Tax is abolished and dividend income is taxable in the hands of the shareholders.In this regard please find enclosed herewith an email communication which has been sent to all the shareholders having their email IDs registered with the Company/Depositories explaining the process on withholding tax from dividends paid to the shareholders at prescribed rates.