The Board of Directors recommended a final dividend of ₹2.15 per equity share (21.50%) on shares of face value ₹10 each at their meeting held on 30th May, 2026.
This dividend is subject to approval by shareholders at the 19th Annual General Meeting (AGM) scheduled for 5th August, 2026.
TDS Implementation Framework
The Company is required to deduct tax at source from dividend payments as per the Income Tax Act, 2025.
TDS rates vary based on shareholder residential status, category, and documentation provided.
Shareholders must submit required documents by 29th July, 2026 to email: contact@mdplcorporate.com with copy to manish.gadia@ifgl.in.
No communications regarding tax determination will be entertained after the deadline.
TDS Rates for Resident Shareholders
Mutual Funds: 10% TDS rate, unless exemption declaration with SEBI registration certificate and PAN is provided.
Insurance Companies: 10% TDS rate, unless exemption declaration with IRDAI registration certificate and PAN is provided.
Category I and II Alternative Investment Funds (AIF): 10% TDS rate, unless exemption declaration with SEBI registration certificate and PAN is provided.
Other Resident Shareholders:
20% TDS if PAN not provided/available
Nil TDS with valid Form 12B and PAN
Nil/lower TDS with self-declaration and supporting documents
Nil/lower TDS with valid certificate under Section 395(1) of the Income Tax Act
TDS Rates for Non-Resident Shareholders
FIIs/FPIs: 20% TDS (plus applicable surcharge and cess) unless valid SEBI registration certificate provided.
Exempt Entities: No TDS if valid exemption evidence provided.
Other Non-resident Shareholders (Foreign Companies, NRIs, Foreign Nationals):
Default 20% TDS (plus applicable surcharge and cess)
To avail treaty benefits, must provide: Tax Residency Certificate, Indian PAN, electronically generated Form-41, and DTAA eligibility declaration
Singapore residents must additionally provide evidence demonstrating non-applicability of Article 24 of India-Singapore DTAA
Lower TDS rates apply with valid lower tax withholding certificate
Special Provisions
20% TDS will be deducted for shareholders without PAN/invalid PAN/PAN not linked with Aadhar.
The Company will rely on information verified through Income Tax utility.
Shareholders with multiple accounts will be taxed at the highest applicable rate across all holdings.
Shareholders can claim refunds through their tax returns if higher TDS is deducted.
Registered shareholders must declare if dividend income is assessable to another person.
Additional Compliance Requirements
Physical shareholders must provide PAN, email, mobile number, bank details, and updated signatures via ISR1, ISR2 and Nomination Forms to receive dividend electronically.
Demat shareholders must ensure bank details, tax residential status, PAN, email, and mobile number are updated in their demat accounts.
TDS credit will be available in Form 16B from Income Tax e-filing portal.
Shareholders are responsible for any tax demands arising from misrepresentation of information.
