Nature of the Disclosure

This is a regulatory intimation dispatched to shareholders and filed with the stock exchanges (BSE and NSE) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The purpose is to inform shareholders about the procedures and requirements for the deduction of tax at source (TDS) on the forthcoming final dividend for the financial year 2025-26.

Key Quantitative Figures and Dates

  • Dividend Amount: A final dividend of ₹ 1.65 per Equity Share of face value ₹ 10 each has been recommended for FY2026.
  • Board Meeting Date: The dividend was recommended by the Board of Directors at their meeting held on April 14, 2026.
  • Annual General Meeting (AGM) Date: Shareholder approval for the dividend is subject to the outcome of the ensuing AGM scheduled for June 30, 2026.
  • Record Date: The dividend will be paid to shareholders on the register as of the record date, which is June 5, 2026.
  • Document Submission Deadline: Shareholders must provide all requisite documents for TDS purposes to the company's Registrar & Share Transfer Agent (RTA) by June 5, 2026. No communications on tax determination will be considered after this date.

Parties Involved

  • Issuing Company: ICICI Prudential Life Insurance Company Limited
  • Registrar & Share Transfer Agent (RTA): KFin Technologies Limited
  • Depositories: National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL)
  • Regulators: The disclosure references several regulatory bodies whose rules govern the process, including the Securities and Exchange Board of India (SEBI), the Income-tax authorities under the Income-tax Act, 2025, and the Investor Education and Protection Fund Authority (IEPF Authority).

Detailed TDS Procedures and Requirements

The document provides a comprehensive breakdown of TDS requirements based on shareholder categorization:

1. For Resident (Individual) Shareholders:

  • Standard TDS rate is 10% on the dividend income.
  • If PAN is not provided, the TDS rate increases to 20%.
  • No TDS will be deducted if the total dividend from the company during the tax year does not exceed ₹ 10,000.
  • Shareholders can avoid TDS by submitting a duly filled Form No. 121 (provided in Annexure A) if they meet the eligibility conditions.

2. For Resident (Non-Individual) Shareholders:

  • Specific categories of shareholders (Insurance Companies, Mutual Funds, Alternative Investment Funds, NPS Trust, Business Trusts) can avail nil or lower deduction by submitting a self-attested copy of their registration certificate and a self-declaration in the format provided in Annexure B.

3. For Non-Resident Shareholders (including FIIs/FPIs):

  • The standard TDS rate is 20% (plus applicable surcharge and cess).
  • To avail beneficial rates under a Double Tax Avoidance Agreement (DTAA), shareholders must submit:
  • A valid Tax Residency Certificate.
  • An electronically filed Form 41.
  • A self-declaration in the format provided in Annexure C.
  • FPIs must also submit a certificate of registration with SEBI.
  • The company notes it is not obligated to apply DTAA rates and will do so only if the submitted documents are complete and satisfactory.

4. Other Provisions:

  • Shareholders can submit a lower/NIL deduction certificate issued under Section 395(1) of the Act.
  • PAN-Aadhaar linking is mandatory. Failure to link will render the PAN inoperative, leading to TDS at the higher rate of 20%.
  • Custodians who are not beneficial owners must provide a declaration under Rule 203 (Annexure D) and details of beneficiaries (Annexure E) to transfer the TDS credit.
  • For shareholders with multiple folios under a single PAN, the highest applicable tax rate among the categories will be applied to the entire holding.

Additional Shareholder Instructions

  • The company has initiated a "100-Days' Campaign - Saksham Niveshak" from April 1, 2026, to July 9, 2026, urging shareholders to update KYC and bank details to claim unpaid dividends and shares before transfer to the IEPF.
  • As per a SEBI mandate effective November 18, 2025, all future dividends must be paid electronically. Shareholders must ensure their bank account details are updated with the depository participants or the RTA.
  • All relevant documents must be uploaded to https://ris.kfintech.com/clientservices/investors/taxforms.aspx or emailed to the RTA at einward.ris@kfintech.com with a copy to the company at investor@iciciprulife.com.
  • The company includes a disclaimer stating that the communication is not tax advice and shareholders should consult their tax advisors.

Attachments

The intimation includes five annexures:

  • Annexure A: Form No. 121 (for Resident Individual shareholders)
  • Annexure B: Declaration Certificate (for certain Resident Non-Individual shareholders)
  • Annexure C: Declaration for Tax residency and ownership (for Non-Resident shareholders)
  • Annexure D: Declaration under Rule 203 (for custodians)
  • Annexure E: Details of Beneficial owners of dividend income

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