Great Eastern Shipping Co. Ltd. — Notice of Dividend Amount 2024

Aug 1, 2024

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Our Ref: SH/SE/AUGUST/2024

August 1, 2024

BSE Ltd. National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, 5[th] Floor, Plot No C/1, Dalal Street G Block, Bandra-Kurla Complex, MUMBAI -400 001 Bandra (E), Mumbai – 400051 Scrip Code: 500620 Symbol – GESHIP

Dear Sirs,

Sub: Communication with regards to Tax Deduction at source (TDS) on dividend.

Please find enclosed communication being sent to the shareholders in connection with deduction of Income-tax at source on dividend and submission of documents for claiming applicable tax exemption.

This is for your information and records.

Thanking you,

Yours faithfully, For The Great Eastern Shipping Company Limited

Anand Digitally signed by Anand Prabhaka Prabhakar Punde Date: 2024.08.01 r Punde 17:25:28 +05'30' Anand Punde Company Secretary Email Id: anand_punde@greatship.com

Encl: As above.

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August 1, 2024

The Equity Shareholders

The Great Eastern Shipping Company Limited

Dear Sir/Madam,

Sub: Interim Dividend for FY 2024-2025 – Communication regarding TDS / withholding tax on Dividend.

This is to inform you that the Board of Directors of the Company has declared an interim dividend of Rs.9/- per equity share for the financial year 2024-2025.

As per the provisions of the Income-tax Act, 1961 (‘ the Act’ ), dividends paid or distributed by a Company are taxable in the hands of the shareholders.

Accordingly, your Company is required to deduct Income-tax at source (‘ TDS ’)/withholding tax at the time of making payment of the aforesaid interim dividend. The TDS/withholding tax rate would vary depending on the residential status of each shareholder and the documents submitted by the shareholder and found to be in order by the Company.

The aforesaid interim dividend will be paid after deducting TDS / withholding tax in the following manner:

In the case of Resident Shareholders

• 1) Where the shareholder holds a valid Permanent Account Number (PAN):

• a) Tax shall be deducted at source under section 194 of the Income-tax Act @ 10% on the amount of dividend.

• b) No tax shall be deducted in the case of a resident individual shareholder, if:

  • i) the amount of dividend does not exceed INR 5,000; or

  • ii) the individual shareholder submits a duly signed Form 15G or Form 15H (applicable to individual shareholders above the age of 60 years) provided that all the prescribed eligibility conditions are met. The formats of Form 15G and Form 15H are available on the website of the Company: www.greatship.com.

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• 2) Where the PAN is either not available or is invalid or the shareholder has not filed his/her/its Income Tax Return for the immediately preceding Assessment Year 2024-2025 for which due date of filing the Return of Income has expired and the aggregate of TDS and Tax Collected at Source (TCS) in his/her/their case for the Assessment Year 2024-2025 is Rs.50,000 or more, TDS shall be at the higher rate of 20%. For the purposes of TDS, the Company will verify the status of the shareholder whether he/she/it is a non-filer of Return of Income from the Government enabled online facility before deducting TDS at the higher rate of 20%.

• 3) No tax shall be deducted on the dividend payable to the following resident non-individuals where they provide details and documents to the Company’s Registrar and Share Transfer Agents (‘RTA’) viz., KFin Technologies Limited

• ➢ Insurance Companies : Subject to Self-declaration that it has full beneficial interest with respect to the ordinary shares owned by it along with self-attested copy of PAN card and certificate of registration with Insurance Regulatory and Development Authority (IRDA)/ LIC/ GIC.

• ➢ Mutual Funds : Self-declaration that it is registered with SEBI and is notified under Section 10(23D) of the Act along with self-attested copy of PAN card and certificate of registration with SEBI.

• ➢ Alternative Investment Fund (AIF) : Self-declaration that its income is exempt under Section 10(23FBA) of the Act, and it is registered with SEBI as Category I or Category II AIF along with self-attested copy of the PAN card and certificate of AIF registration with SEBI

• ➢ Other non-individual shareholders : Self-attested copy of documentary evidence supporting the exemption along with self-attested copy of PAN card.

For Non-resident Shareholders

• 4) Tax shall be deducted at the rate of 20% (plus applicable surcharge and cess) on the amount of dividend.

• 5) As per the provisions of the Act, a non-resident shareholder can opt to be governed by the provisions of the Double Tax Avoidance Treaty (DTAA/Tax Treaty) between India and the country of tax residence of the shareholder, if the provisions of such DTAA/Tax Treaty are beneficial to them. In order to avail the DTAA/Tax Treaty benefits, the non-resident

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shareholder is required to furnish the following documents on or before August 12, 2024 to the RTA viz., KFin Technologies Limited.

• a) Self-attested copy of Permanent Account Number (PAN), if allotted by the Indian Income Tax Authorities; or

• b) Self-attested Tax Residency Certificate (TRC) issued by the tax authorities of the country of which shareholder is a tax resident, evidencing and certifying the shareholder’s tax residency status during the financial year 2024-25.

• c) File form 10F electronically on the Income-tax department’s website www.incometax.gov.in and furnish a self-attested copy of the e-filed Form 10F.

• d) Self-declaration by shareholder of meeting treaty eligibility requirement and satisfying beneficial ownership requirement in the prescribed format available on the website of the Company : www.greatship.com.

• e) In the case of Foreign Institutional Investors and Foreign Portfolio Investors, copy of SEBI registration certificate.

• f) In case of a shareholder being tax resident of Singapore who wants to claim treaty benefit, satisfaction of requirement of Article 24 – Limitation of Relief of the India-Singapore tax treaty must be provided.

• 6) The Company is under no obligation to apply the beneficial DTAA tax rate at the time of tax deduction/withholding on dividend amounts. Application of beneficial DTAA tax rate depends upon the completeness and satisfactory review by the Company of the documents submitted by the concerned Non-Resident shareholder.

• 7) In terms of Rule 37BA of the Income Tax Rules 1962, if the dividend income on which tax has been deducted at source is assessable in the hands of a person other than the deductee, then such deductee should file a declaration with the Company and its RTA in the manner prescribed in the Rules on or before August 12, 2024 . Such declaration should contain the name, address, PAN, of the person to whom such credit is to be granted and the reasons for granting credit to such person. No request in this regard will be accepted by Company/RTA after the said date.

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Updation of PAN, email address and other details

Shareholders holding shares in dematerialized mode, are requested to update their records such as tax residential status, permanent account number (PAN), registered email addresses, mobile numbers and other details with their relevant depositories through their depository participants. Shareholders holding shares in physical mode are requested to update their KYC and furnish details to the Company’s Registrar and Share Transfer Agent Kfin Technologies Limited. The Company is obligated to deduct tax at source (TDS) based on the records available with RTA and no request will be entertained for revision of TDS return.

Kindly note that in order to enable the Company to determine and deduct appropriate TDS/withholding tax, the scanned copy of the duly signed documents as mentioned above are required to be emailed to the Company at dividendtax@greatship.com and to its RTA, viz., KFin Technologies Limited at einward.ris@kfintech.com on or before August 12, 2024. No communication on the tax determination/ deduction shall be entertained thereafter.

The Government has made it mandatory for all taxpayers having a PAN to link it with their Aadhaar. Shareholders are requested to ensure to link PAN with their Aadhar No.

The original documents may be sent in due course to the Company at its registered office or to its RTA at the following address:

KFin Technologies Ltd.

Unit: The Great Eastern Shipping Co. Ltd. Karvy Selenium, Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad - 500 032

For withholding of taxes, the residential status of the shareholders will be considered as per the data available with the Company/RTA/the Depository Participants ( ‘DPs’ ). In case there is change in their status, then the shareholders are requested to update their current status with the Company/RTA/the DPs on or before August 12, 2024 .

You may kindly note that in case the tax on the dividend is deducted at a higher rate in absence of receipt of the aforementioned details/documents from you, there would still be an option available with you to file the return of income and claim an appropriate refund, if eligible.

Incomplete and/or unsigned forms, declarations and documents will not be considered by the Company for granting any exemption.

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Kindly note that no claim shall lie against the Company for tax deducted at source/withheld at source.

The Company shall arrange to email a soft copy of the TDS certificate at the shareholder’s registered email ID post payment of the Interim Dividend. Shareholders will also be able to see the credit of TDS in Form 26AS, which can be downloaded from their e-filing account at https://incometaxindiaefiling.gov.in.

In case you require any other information/clarification with regard to the above, kindly write to us at dividendtax@greatship.com or our RTA at einward.ris@kfintech.com.

Disclaimer: This Communication shall not be treated as an advice from the Company. Shareholders should obtain the tax advice related to their tax matters from a tax professional.

Thanking you,

Yours faithfully,

For The Great Eastern Shipping Company Limited

Anand Digitally signed by Prabhakar Anand Prabhakar Punde Date: 2024.08.01 Punde 17:26:03 +05'30'

Anand Punde Company Secretary.