Nitiraj Engineers Limited informed shareholders about the tax deduction on dividends, noting that effective April 1, 2020, dividends are taxable in their hands. The Board proposed a dividend of ₹1.5 per share for the fiscal year ending March 31, 2024, subject to AGM approval on September 24, 2024, with withholding tax rates ranging from 10% to 20% depending on various conditions.