Why Muthoot FinCorp

Dear Sir/Madam

Subject- Applicability of TDS vide Section 193 of the Income Tax Act against interest on listed and dematerialized instruments effective from 01/04/2023

It is hereby informed that consequent to the changes made in the Budget 2023, Section 193 of the Income Tax Act has been amended to make TDS applicable on interest on listed and dematerialized securities with effect from April 1, 2023.

Up to March 31, 2023, Clause ix of the proviso to Section 193 of the Income Tax Act, 1961 exempted TDS in the case of Interest on securities issued in dematerialized form and that were listed on a recognized stock exchange. Hence, till 31/03/2023, TDS was not applicable on listed and dematerialized NCDs, subordinated debt and perpetual debt instruments. However, the Finance Act 2023, which gives effect to the Budget amendments, has removed Clause ix of proviso to Section 193 of the Income Tax Act, 1961 which has resulted in TDS being made applicable on interest on listed and dematerialized securities also.

Therefore, with effect from April 1, 2023, TDS will be applicable on interest on all instruments issued by the Company including listed and dematerialized NCD, Subordinated Debt and Perpetual Debt Instruments. TDS will apply on the said interest accruing on or after April 1, 2023.

All listed and dematerialized instruments are mandatorily managed (interest payments, TDS, repayments etc.) by a Registrar and Transfer Agent (RTA). In our case, the RTA is Integrated Registry Management Services Private Limited. In case you are eligible for exemption from TDS, kindly upload the applicable the duly filled, signed and verified Form 15G / Form 15H in the website of the Registrar - arfhttps://www.integratedindia.in/ExemptionFormSubmission.aspx.syf The validity of submission of Form 15G/15H by is as below. Kindly note that false declarations could be punishable under law.

Please note that investors who are eligible to submit Form 15G / Form 15H have to fill in all the fields in Part I of the Form 15G / 15H, sign and verify the same before uploading, for it to be considered. Part II of Form 15G / Form 15H need not be filled / uploaded by the investors.

A brief note on the process of uploading the applicable form is given overleaf for your ready reference

Yours faithfully
For Muthoot Fincorp Limited
Sd/-
Authorised Signatory
31/03/23

Process to submit Form 15G/H

Please use the below link to download and upload exemption forms:

https://www.integratedindia.in/ExemptionFormSubmission.aspx

On the landing page

1. 1. Download the applicable exemption Form
2. 2. Fill in all the fields that are to be declared by the person submitting the Form 15G/Form 15H, sign and verify the Form. The soft copy of the duly filled and signed Form can be uploaded in the website of the Registrar by following the below steps.
3. 3. From the link https://www.integratedindia.in/ExemptionFormSubmission.aspx, select the Company for which the Form is uploaded (Muthoot Fincorp Limited) & click OK button if the company selected is correct.
4. 4. Select Mode of Security held – Demat (or) Physical
5. 5. Input your DPIDCLID in case of Demat / Folio in case of Physical
6. 6. Input your PAN No
7. 7. Input your Mobile No
8. 8. Input your email-id
9. 9. Select financial year to which the Form belongs to, from the dropdown list
10. 10. Select the form which you are uploading, from the dropdown list
11. 11. Upload PAN
12. 12. Upload exemption form (Ensure to fill in all the details required in the form and to sign)
13. 13. Upload any other document (This is not mandatory. All other steps 1 to 10 are mandatory fields)
14. 14. Enter the captcha code
15. 15. Click on SUBMIT button for final submission
16. 16. On final submission you will be redirected to a page where you can view an acknowledgement No with your PAN and Email-id

Take a screen shot of the acknowledgement and quote the Acknowledgement No., Name of the Company and PAN for any further correspondence related to Form submission.

CAUTION NOTICE TO GENERAL PUBLIC

Please note that Muthoot FinCorp Limited (MFL) or its associates or agents do not ask the customers to share their Bank Account Number, PIN, CVV, Internet Password or any other such personal information. Kindly do not ever share any of this information with anyone including unidentified persons or agencies. It is your personal information and has to be known only to you. 1

MFL also wishes to caution the general public that certain unscrupulous persons / agencies are issuing fake / fraudulent loan sanction letters / cash receipts / investments with guaranteed returns to customers purporting them to be issued by MFL and such unscrupulous persons / agencies are attempting to extort money / demand money in various forms/ towards investments / processing fees from the gullible customers.

MFL hereby informs the general public that MFL or any of its associates or agents never requires a customer to pay any money or advance money or deposits for any purpose either in cash or into an individual's bank account or via any other modes of payment towards Advance money, Processing fee or any Deposits for loan sanctioning or any other purpose. We hereby caution the general public to not rely or act upon any such fraudulent claims / sanctions / demands / offers made in the name of MFL without verifying the authenticity of its contents. MFL requests the general public to deal directly with the Company at its established and official branches only. MFL will not be liable for any kind of loss incurred or damage suffered as a result of individuals dealing with such unscrupulous persons / agencies without proper identification and verification.

Any payment to be made by you has to be to the credit of MFL’s Bank Account only , as provided by the officials at MFL’s registered branches.

Customers desirous of availing loans / services from MFL may contact any of the branches directly or speak to our call centre executive on our Toll Free Number: 18001021616 or can write to us on our website: www.muthootfincorp.com or e-mail on customercare@muthoot.com