Company Disclosure

Dividend Declaration Details

  • The Board of Directors approved an interim dividend of ₹0.50 per equity share (50% on face value of ₹1.00 each) for financial year 2026-27
  • Board meeting date: 14th October, 2026
  • Record date: 21st October, 2026
  • Dividend will be paid to shareholders holding equity shares as on record date

Tax Deduction at Source Procedures

For Resident Shareholders

  • TDS @ 10% under Section 393(1) [Table: S.No.7] read with Section 393(4) [Table Sr. no. 10] of Income Tax Act, 2025
  • No TDS if aggregate dividend during financial year does not exceed ₹10,000 for individuals
  • No TDS deduction if shareholder provides Form 121 with eligibility conditions met
  • PAN mandatory and must be linked with Aadhaar - otherwise TDS deducted at higher rates u/s 397(2)
  • Higher TDS rates apply if PAN invalid or PAN-Aadhaar not linked: higher of twice the specified rate or 20%

Exemptions for Resident Shareholders (with required documentation)

  • Insurance companies (as per Section 2(7A) of Insurance Act, 1938)
  • Mutual Funds eligible under Schedule VII (Table: Sl. No. 20 or 21) to Section 11
  • Alternative Investment Funds (Category I or II AIF under SEBI Regulations) eligible under Schedule V [Table: Sl. No. 1] to Section 11
  • New Pension System Trust
  • Shareholders with valid certificate u/s 395(1) for lower/nil deduction

For Non-Resident Shareholders

  • Tax withholding @ 20% (plus applicable surcharge and cess) under Section 393(2) [Table Sl. No 17] read with Section 207(1) [Table Sl. No. 1]
  • Option to avail DTAA benefits if more beneficial
  • Required documents for DTAA benefits: PAN card (if available), TRC from tax authorities, Digital Form 41, self-declaration of treaty eligibility
  • For FIIs/FPIs: SEBI registration certificate required
  • Special requirements for Singapore tax residents: evidence demonstrating non-applicability of Article 24 (Limitation of Relief)

Documentation Deadline

All documents must be submitted on or before 21st October, 2026 to:

  • MUFG Intime India Private Limited (RTA)

Key Summary of TDS Rates

1. NIL for resident shareholders receiving dividend up to ₹10,000 or submitting Form 121 with PAN-Aadhaar link

2. 10% for other resident shareholders with PAN provided

3. NIL/lower rate for residents with certificate u/s 395(1)

4. 20% for residents without PAN/PAN not linked to Aadhaar

5. Variable rates for non-residents based on document submission

6. 20% plus surcharge/cess for non-residents without required documents

7. Lower/NIL TDS for non-residents with certificate u/s 395(1)

Additional Requirements

  • Clearing members must ensure shares are transferred to shareholder accounts by record date
  • Declaration under Rule 203 required if dividend income assessable in hands of person other than deductee
  • Multiple accounts under different status/category: higher tax rate applicable to entire holding
  • Shareholders must update PAN, email address, bank details with depository participants or RTA
  • Bank account details must be updated for direct credit of dividend

Important Notes

  • No communication on tax determination/deduction entertained after 21st October, 2026
  • Company will not entertain requests for revision of TDS return
  • Shareholders can claim refund of excess tax deducted by filing income tax return
  • Disclaimer: Information provided does not constitute legal or tax advice

Attachments

  • Form 121 (Declaration for receipt of incomes without deduction of tax)
  • Self-declaration forms for resident shareholders
  • Self-declaration forms for non-resident shareholders
  • Declaration under Rule 217 (Relaxation from deduction of tax at higher rate)