Himalayan Life Insurance Urges Shareholders to Pay Tax on Bonus Shares

Kathmandu — Himalayan Life Insurance Limited has called on its shareholders to deposit the 14% tax applicable on bonus shares approved during the company’s 17th Annual General Meeting held on Falgun 11, 2081 BS.

According to the company, shareholders who held its shares until the month of Magh 24, 2081 BS, are entitled to the bonus shares. However, the distribution of these shares into shareholders’ Demat accounts will only proceed after the required tax payment is made.

Furthermore, the company clarified that shareholders who have taken loans by pledging their shares as collateral until Magh 24 must not only clear the tax liability but also submit a No Objection Certificate (NOC) letter from the concerned bank or financial institution. Only after these requirements are fulfilled will the bonus shares be credited to their Demat accounts.

The bonus shares have already been listed on the Nepal Stock Exchange (NEPSE) and are currently in trading.