Dividend Declaration

  • The Board of Directors at its meeting held on May 5, 2026 recommended declaration of final dividend of Rs. 22.50 per fully paid-up Equity Share of face value Rs. 10/- each (225%) for FY ended March 31, 2026.
  • Dividend subject to approval by shareholders at the 46th Annual General Meeting scheduled for Wednesday, July 22, 2026.
  • If approved, dividend will be distributed on or before Thursday, August 20, 2026.
  • Record date for determining entitlement: Wednesday, July 15, 2026.

Tax Deduction at Source Provisions

For Resident Shareholders

  • TDS deducted under Section 393(1) [Table Sr. No. 7] read with Section 393(4) [Table Sr. No. 10] of Income Tax Act, 2025
  • 10% TDS rate for shareholders with valid PAN
  • 20% TDS rate for shareholders without PAN/invalid PAN/inoperative PAN (non-linking with Aadhaar)

Resident Individual Exemptions

  • No TDS if total dividend during FY 2026-27 does not exceed Rs. 10,000/-
  • No TDS if shareholder furnishes Form 121 (all fields mandatory)
  • Exemption certificate from Income-tax Department

Resident Non-Individual Exemptions (with required documentation)

  • Insurance Companies: Self-declaration as 'Insurer' per Section 2(7A) of Insurance Act, 1938 with PAN and IRDA/LIC/GIC registration
  • Mutual Funds: SEBI registration and notification under Section 11 of Schedule VII [Table Sr. No. 20] with PAN and SEBI registration
  • Alternative Investment Fund (AIF): Income exemption under Section 11 - Schedule V [Table Sr. No. 1] with PAN and SEBI registration as Category I or II AIF
  • New Pension System (NPS) Trust: Qualification as NPS trust with income exemption under Section 11 of Schedule VII [Table Sr. No. 41]
  • Other Non-Individual Shareholders: Documentary evidence supporting exemption with PAN

For Non-Resident Shareholders

  • Withholding tax at 20% (plus applicable surcharge and cess) under Section 393(2) [Table Sr. No. 17 and 15]
  • Lower/nil withholding possible with certificate under Section 395
  • DTAA benefits available if more beneficial

DTAA Documentation Requirements for Non-Residents

  • Self-attested PAN copy (or name, email, contact, address, Tax Identification Number)
  • Self-attested Tax Residency Certificate (TRC) for FY 2026-27
  • E-filed Form 41 valid for April 2026 to March 2027
  • Self-declaration of treaty eligibility and beneficial ownership
  • SEBI registration certificate for FIIs/FPIs
  • Additional evidence for Singapore tax residents regarding Article 24-Limitation of Relief

Lower Withholding Certificate

  • Shareholders can provide certificate under Section 395 for lower/nil withholding
  • Certificate must be on Company TAN: BLRA03369C
  • Certificates on other TANs will not be accepted

Important Dates and Deadlines

  • Documentation submission cutoff: Wednesday, July 15, 2026
  • Online form submission deadline: July 15, 2026 till 7:00 pm (IST)
  • Documents submitted after cutoff may not be accepted

Additional Provisions

  • Higher TDS rate (20%) for non-linkage of PAN with Aadhaar per Section 262
  • Declaration under Rule 203 of Income-tax Rules, 2026 required if dividend income assessable by person other than deductee
  • For multiple accounts under different status/category with single PAN, highest applicable tax rate will apply to entire holding

Document Submission

  • Online upload: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html
  • Email for resident shareholders: Csgexemptforms2627@in.mpms.mufg.com
  • Email for non-resident shareholders: Sectl@acglgoa.com

Payment and Refund Information

  • Dividend paid after TDS deduction
  • Shareholders can claim refund from Income-tax Authorities if eligible
  • Tax credit viewable in Form 168 at TRACES or Income Tax e-filing portal

Bank Account Requirements

  • Shareholders must ensure bank details updated in demat accounts/physical folios
  • SEBI mandate: Dividend to physical shareholders paid only electronically effective April 1, 2024
  • Physical shareholders must provide PAN, nomination, contact details, bank details, specimen signature