Muthoot Finance Ltd

As per the amended Section 193 of the Income Tax Act 1961 payment of Interest on listed debentures will attract Tax Deduction at Source (TDS) from 1st April 2023. Finance Act 2023 has removed the exemption from Tax Deduction at Source on Interest on Listed Securities which was available under Clause (ix) of Section 193 of the Act with effect from 1st April 2023. Accordingly the Company would be required to deduct Tax at Source at the prescribed rates under section 193 of the Income tax Act on the interest payments made from 1st April 2023. Net interest amount after deducting the applicable TDS will be credited to the bank account of the investors monthly / annual / on maturity interest payments dates.