Mahindra Lifespace Developers : Communication to shareholders as per Reg 30

Date: 14 June, 2022
Bombay Stock Exchange Limited	National Stock Exchange of India Limited
Corporate Services,	Exchange Plaza,
Piroze Jeejeebhoy Towers,	Bandra Kurla Complex,
Dalal Street,	Bandra (East)
Mumbai - 400 001	Mumbai - 400 051
Listing:http://listing.bseindia.com	Listing: https:www.connect2nse.com/LISTING/

Sub: - Communication to Shareholders for submission of documents for deduction of tax at source on final dividend recommended for the financial year ended 31 March 2022.

Re: Mahindra Lifespace Developers Ltd ("the Company")

Security	BSE	NSE	ISIN
Equity Shares	532313	MAHLIFE	INE813A01018

Dear Sir / Madam,

Pursuant to the Finance Act, 2020, with effect from 1 April 2020 Dividend Distribution Tax has been abolished and dividend income is taxable in the hands of the Shareholders.

In this regard, please find enclosed herewith an e-mail communication which is being sent to all the shareholders of the Company whose e-mail IDs are registered with the Company/Depositories explaining the process of withholding tax on dividends to the shareholders, at prescribed rates, as may be applicable for each category of shareholders.

This intimation is also being uploaded on the website of the Company http://www.mahindralifespaces.com.

Thanking You,

For Mahindra Lifespace Developers Limited

Ankit Shah

Assistant Company Secretary & Compliance Officer

FCS 2427

MAHINDRA LIFESPACE DEVELOPERS LIMITED

CIN: L45200MH1999PLC118949

Registered Office: 5th Floor, Mahindra Towers, Worli, Mumbai 400018.

Website: www.mahindralifespaces.comEmail : [e-mail]

Phone: [phone] / 8601

Date: 14 June, 2022

Dear Member(s),

We hope this communication finds you and your families in the best of health.

We are pleased to inform you that the Board of Directors of the Mahindra Lifespace Developers Limited ("the Company"), at their Meeting held on 27th April 2022, has recommended Final Dividend of Rs. 2.00/- per equity share of face value of Rs. 10/- each fully paid (i.e. 20% on face value) for the Financial Year ("FY") ended 31st March 2022, for approval of the Shareholders at the ensuing 23rd Annual General Meeting ("AGM") of the Company scheduled to be held on Wednesday, 27th July, 2022.

The Final Dividend for FY 2021-22, if declared at the ensuing AGM will be paid through permitted modes, on or after Thursday, 28th July, 2022 to those Shareholders whose names appear in the Register of Members of the Company or List of beneficial owners maintained by the Depositories as at the close of business hours of Wednesday, 20th July, 2022.

All Shareholders are therefore requested to kindly ensure that details such as PAN, residential status, category of holding, e-mail ID, postal address are updated, in their respective demat account(s) maintained with the Depository Participant(s) ("DP") for equity shares held in demat mode or with the Registrar and Share Transfer Agent of the Company - KFin Technologies Limited ("RTA"), in case of equity shares held in physical form, on or before Wednesday, 20th July, 2022.

As you may be aware, in terms of the provisions of the Income Tax Act, 1961 ("the Act"), as amended by the Finance Act, 2020, dividends paid or distributed by a company after 1st April 2020 shall be taxable in the hands of the Shareholders. Accordingly, the Company is required to deduct tax at source ("TDS") at rates (plus surcharge and cess), as applicable, at the time of making the payment of the Final Dividend, if approved and declared at the ensuing AGM.

This communication provides a brief of the applicable TDS provisions under the Act for Resident and Non-Resident Shareholder categories. Please note that details as available on

Book Closure date in the Register of Members/List of beneficial owners will be relied upon by the Company, for the purpose of complying with the applicable withholding tax provisions and payment of the Final Dividend, if declared.

1. RESIDENT SHAREHOLDERS:

Tax is required to be deducted at source under Section 194 of the Act, at the rate of 10% on the amount of dividend where Shareholders have registered their valid PAN details with the DP/RTA. In case, Shareholders do not have PAN / have not registered their valid PAN, TDS would be deducted at the rate of 20% as per Section 206AA of the Act.

1. For Resident Individuals
2. • No TDS will be deducted in case the total dividend payable (PAN clubbed) during FY 2022-23 does not exceed Rs. 5,000/-. Please note that this includes the future dividends, if any declared by the Board in FY 2022-23.
   • No TDS will be deducted for resident individual shareholders in case Form 15G (for individuals)/Form 15H (for individuals above the age of 60) duly filled up in all respects is submitted (through registered e-mail ID) along with self-attested copy of the PAN. Please note all fields are mandatory to be filled up and the Company may at its sole discretion reject the form if it does not fulfil the requirements of the law.
   • Nil/Lower TDS will be deducted subject to submission by the Shareholder of self- attested copy of PAN and exemption certificate under Section 197 of the Act.

Click hereto download Form 15G

Click hereto download Form 15H

B. For Resident Non-Individuals

No tax shall be deducted on the dividend payable to the following Resident Non-Individual Shareholders where they provide details and documents as given below:

	Category of Shareholder			Exemption			Documentation
							No TDS required to be deducted, subject to
							specified	conditions.
	Mutual Funds specified			Section 196(iv)			Self-declaration	that they are specified
	under Section 10(23D) of
			of the Act			Mutual Funds under Section 10(23D) of the
	the Act
						Act and self-attested copy of PAN and
							SEBI Registration certificate may be
							voluntarily submitted.
							No TDS required to be deducted, subject to
							specified	conditions.
	Insurance Companies			Section 194 of			Self-declaration	that it has full beneficial
			the Act			interest with respect to shares owned and
							self-attested copy of PAN and IRDAI
							registration certificate may be voluntarily
							submitted.
							No TDS required to be deducted, subject to
				Section			specified	conditions
				197A(1F) of the
	Category I and II Alternate			Act read with			Self-declaration that income is exempt
	Investment Fund ("AIF")			Notification No.			under Section 10(23FBA) of the Act and
				51/2015 dated			self-attested copy of PAN and SEBI
				25 June 2015			Registration AIF certificate may be
							voluntarily submitted.
	Recognized Provident Fund						No TDS required to be deducted, subject to
	Approved Superannuation			Circular			specified	conditions.
			18/2017 dated
	Fund
			29 May 2017			Self-attested copy of PAN and valid
	Approved Gratuity Fund						order/approval	of commissioner as per

							Circular No. 18/2017 issued by Central
							Board of Direct Taxes.
							No TDS required to be deducted, subject to
							specified	conditions.
	New Pension System			Section			Self-declaration that it	qualifies as NPS
	("NPS") Trust or any other
			197A(1E) of the			Trust and income is eligible for exemption
	authorities as mentioned
			Act			under Section 10(44) of the Act and being
	under Section 10 of the Act
						regulated by the provisions of the Indian
							Trusts Act, 1882 along with self-attested
							copy of the PAN.
	Government			Section 196(i)			No TDS required to be deducted.
	(Central/State)			of the Act
							Valid self-attested documentary evidence
	Any other Resident Non-			-			substantiating exemption from deduction of
	Individual Shareholder					TDS needs to be submitted along with self-
							attested copy of the PAN.

In case, Shareholders provide certificate under Section 197 of the Act, for lower/NIL TDS, rate specified in the said certificate shall be considered on submission of self-attested copy of PAN and exemption certificate issued by the Income Tax Department.

2. NON-RESIDENT SHAREHOLDERS

1. Taxes are required to be withheld in accordance with the provisions of Section 195 of the Act as per the rates as applicable. As per the relevant provisions of the Act, the withholding tax shall be at the rate of 20% (plus surcharge and cess, as applicable) on the amount of dividend payable to Non-Resident Shareholders.
2. However, Non-Resident Shareholders have an option to claim and be governed by the provisions of the Double Tax Avoidance Agreement ("DTAA") between India and the country of tax residence of the Shareholder, if they are more beneficial to them.