Tax Payment Instructions for Himalayan Life Insurance Bonus Shares
Tue, Mar 19, 2024 12:13 PM on Latest, Dividend, Bonus & Rights,
Himalayan Life Insurance Limited (HLI) has issued a crucial notice emphasizing the tax requirement for acquiring bonus shares. To receive bonus shares of Himalayan Life Insurance Company, shareholders must fulfill their tax obligations beforehand.
HLI is distributing 13.27% bonus shares of former Gurans Life Insurance Company Limited and 8.97% bonus shares of former Union Life Insurance Company Limited directly to the demat accounts of its shareholders following the completion of tax payment.
The company has advised its shareholders to settle the tax obligation related to the distribution of bonus shares. In a published notice, shareholders are requested to remit the applicable tax amount on the bonus shares distributed, originating from the profits of the preceding fiscal year 2077-78 of Gurans Life Insurance Company Limited and Union Life Insurance Company Limited.
Previously, Gurans Life and Union Life had disseminated bonus shares of 13.27% and 8.97% respectively from the profits of the fiscal year 2077-78.
The bonus shares will be credited to the respective Demat accounts of shareholders only after the tax payment is confirmed.
