Key Quantitative Figures

  • Recommended dividend: ₹40 per equity share of Re. 1/- each
  • Final dividend component: ₹10 per share
  • Special dividend component: ₹30 per share
  • Tax exemption threshold: No TDS if dividend income ≤ ₹10,000 during FY 2026-27 for resident individuals

Parties Involved

  • Registrar & Transfer Agent: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
  • Depositories: National Securities Depository Ltd. (NSDL) mentioned for PAN verification
  • Regulatory references: Income Tax Act, 2025; SEBI regulations for AIFs

Tax Rates and Procedures

Resident Shareholders

  • Standard TDS rate: 10% with valid PAN, 20% with invalid/no PAN
  • Nil TDS available for specific categories upon submission of required documents:
  • Form 121 for certain exempt categories
  • Section 393(5) entities (Government, RBI, Mutual Funds, etc.)
  • Category I and II Alternative Investment Funds (AIFs)
  • Entities exempt under section 393(6)
  • Recognized Provident Funds, approved super annuation funds
  • National Pension Scheme

Non-Resident Shareholders

  • FIIs/FPIs: 20% (plus surcharge and cess) or tax treaty rate, whichever beneficial
  • Category III AIFs in IFSC: 10% (plus surcharge and cess)
  • Other non-residents: 20% or tax treaty rate
  • Notified jurisdictional area residents: 30%
  • Sovereign Wealth Funds and Pension Funds: NIL (with appropriate documentation)
  • ADIA subsidiaries: NIL (with appropriate documentation)

Required Documents

Shareholders must submit self-attested copies of:

  • PAN card
  • Form 121 (for resident exemptions)
  • Tax Residency Certificate (for non-residents)
  • Form 41 (for non-residents)
  • Lower/NIL tax deduction certificates from Income Tax Department
  • Various self-declarations (Annexures A through H)

Submission Process

All documents must be uploaded to https://web.in.mpms.mufg.com/formsreg/submission by 20th July 2026. Documents received after this date will not be considered.

Additional Requirements

  • PAN-Aadhaar linking mandatory as per Section 262 of Income Tax Act
  • Shareholders must update KYC details (PAN, email, address, mobile, bank account) with RTA/Depository Participant
  • Clearing members must ensure shares are transferred to shareholder accounts before record date

Post-Dividend Process

  • Company will issue soft copy TDS certificates via email
  • Tax credit statements available on Income Tax Department's website (Form 168)
  • Shareholders can claim refunds through income tax returns if excess TDS deducted

Disclaimers and Reservations

  • Company reserves right to verify PAN through NSDL utility
  • Company may reject incomplete or discrepant documents
  • Higher tax rates applied for multiple accounts under different residential status
  • Shareholders responsible for indemnifying company against any tax demands arising from misrepresentation
  • Communication is not exhaustive tax advice - shareholders should consult tax advisors

Annexures Available

  • Annexure A: Form 121
  • Annexure B: Self-declaration for resident shareholders
  • Annexure C: Self-declaration for non-resident shareholders
  • Annexure D: Declaration for Category III AIFs
  • Annexure E: Declaration for FIIs/FPIs
  • Annexure F & G: Declarations for Sovereign Wealth Funds
  • Annexure H: Declaration for ADIA subsidiaries
  • Annexure I: Declaration for income assessment in other person's hands