As part of dividend tax in view of the recently declared 1200% dividend by Hindustan Zinc, the Income Tax Department received Rs. 2065 crore from the Company on 12th April, 2016. A symbolic cheque of Rs. 2065 crore was presented to Chief Commissioner of Income Tax Smt. Neena Kumar today by Hindustan Zinc CEO Sunil Duggal and company’s CFO Amitabh Gupta. Also present on this occasion were the Additional Commissioner of Income Tax O.P. Kanther, Director Projects of HZL Naveen Singhal and Head of Corporate Communication Pavan Kaushik.
Amitabh Gupta, the CFO of Hindustan Zinc informed that the Company has recently announced 1200% dividend, Rs. 24 on a share of Rs. 2, which entailed an outflow of Rs,. 12,205 crore including dividend tax, the actual dividend being 10,141 crore. The government share of dividend was about Rs. 3000 crore, as the government possesses 29% in Hindustan Zinc. A cheque in this regard was presented by Hindustan Zinc to the Union Finance Minister Arun Jaitley on 11th April 2016.