International Conveyors Limited has issued a communication to its shareholders regarding the deduction of Tax at Source (TDS) on the final dividend for FY 2025-26. This disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dividend Recommendation and Key Dates

The Board of Directors at its meeting held on May 20, 2026, recommended payment of a final dividend of ₹0.50 (50%) per equity share of Re. 1/- each for the year ended March 31, 2026. The dividend payment is subject to declaration at the ensuing Annual General Meeting (AGM) scheduled for September 24, 2026.

The Register of Members and Share Transfer Books will remain closed from Friday, September 18, 2026 to Thursday, September 24, 2026 (both days inclusive) for determining dividend eligibility. Payment will be made to members whose names appear on the Company's Register of Members as of Thursday, September 17, 2026, and to beneficial owners as per details furnished by depositories (NSDL and CDSL) as of the close of business hours on September 17, 2026.

TDS Applicability

In accordance with the Income Tax Act, 2025 as amended by the Finance Act, 2026 (effective April 1, 2026), dividend declared and paid by the Company is taxable in the hands of shareholders. The Company is required to deduct tax at source from dividend payments at prescribed rates.

SEBI Mandate for Electronic Payment

SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 3, 2021 (with subsequent amendments) mandates that dividend payments to physical shareholders shall be made only through electronic mode effective April 1, 2024. This requires shareholders to furnish PAN, nomination choice, contact details including mobile number, bank account details, and specimen signature. Dividend will be withheld if KYC details are not updated with the Company's Registrar and Transfer Agent, Maheshwari Datamatics Pvt. Ltd.

TDS Rates and Requirements

For Resident Members:
  • (a) No TDS if dividend amount does not exceed ₹10,000 during the financial year
  • (b) With PAN (exceeding ₹10,000): 10.0% TDS under section 393(1)
  • (c) Without PAN/Invalid PAN: 20% TDS under section 397(2)
  • (d) Non-linking of PAN and Aadhaar: 20% TDS
  • (e) Submitting Form 121: NIL TDS (for eligible individuals 60 years and older)
  • (f) Submitting valid Certificate under Section 395: Rate provided in certificate
  • (g) Mutual Funds under Section 393(5): NIL TDS with self-declaration
  • (h) Insurance Company exempted under Section 393(4): NIL TDS with self-declaration
  • (j) New Pension System Trust: NIL TDS with self-declaration
  • (k) Other exempted entities: NIL TDS with supporting documentary evidence
For Non-Resident Members:
  • (a) TDS shall be deducted at 20% (plus applicable surcharge and cess)
  • (b) FIIs/FPIs: 20% (plus applicable surcharge and cess) with SEBI registration certificate
  • (c) Other non-resident shareholders: 20% OR Tax Treaty Rate (whichever is less) with extensive documentation including PAN, TRC, Form 41, and self-declaration
  • (d) Submitting Certificate under Section 393/395: Rate provided in certificate
  • (e) Tax residents of Notified Jurisdictional Area: 30% (plus applicable surcharge and cess)

Submission Requirements and Deadlines

All documents must be submitted through the specified online links (https://mdpl.in/login) by 23:59 hours on Thursday, September 17, 2026. The links will be disabled after this deadline.

Shareholders must ensure:

  • Valid PAN is recorded for their folio/DP ID-Client ID
  • Aadhaar is linked with PAN as per prescribed timelines
  • Documents are self-attested as "certified true copy of the original"
  • For joint shareholders, the first-named shareholder must furnish requisite documents

The Company reserves the right to review and examine all documents and reject them in case of discrepancies or incompleteness. Documents received by post, courier, or hand delivery may also be accepted, but no communication on tax determination will be considered after September 17, 2026.

Important Notes

  • Documents must be submitted once for financial year 2026-27 (April 2026-March 2027) unless status changes
  • Shareholders must submit documents afresh even if similar documents were submitted earlier
  • Higher TDS rates may apply for shareholders holding shares under multiple accounts with different status/category under single PAN
  • The Company is not obligated to apply beneficial DTAA rates for non-resident shareholders without complete documentation
  • Shareholders are responsible for any income tax demands arising from misrepresentation or omission of information
  • The communication summarizes tax provisions only, and shareholders should consult their own tax advisors