Dividend Recommendation

The Board of Directors of Mahindra & Mahindra Limited, at its meeting held on 5th May 2026, recommended a dividend of Rs. 33.00 (660%) per Ordinary (Equity) share of Rs. 5 each for the Financial Year ended 31st March 2026.

Payment Timeline and Approval Requirement

The dividend will be paid after 30th July 2026, subject to the approval of members at the 80th Annual General Meeting scheduled to be held on Thursday, 30th July 2026.

Record Date and Register Closure

The Register of Members and Share Transfer Books will be closed from Saturday, 4th July 2026 to Thursday, 30th July 2026 (both days inclusive) for the purpose of payment of dividend and Annual General Meeting. The details available in the Register of Members as at Friday, 3rd July 2026 will be relied upon for determining entitlement and complying with withholding tax provisions.

TDS Provisions for Resident Shareholders

  • Tax deducted at source under Section 393(1) Table Sl. No. 7 of Income Tax Act, 2025 at 10% for shareholders with valid PAN
  • 20% TDS under Section 397(2) for shareholders without PAN, invalid PAN, or PAN not linked with Aadhar
  • No TDS for resident individuals if total dividend does not exceed Rs. 10,000/- during Tax Year 2026-27 as per Section 393(4) Table Sl. No.10
  • Exemptions available through Form 121 for resident individuals meeting eligibility conditions
  • Specific exemption procedures for resident non-individuals including Insurance Companies, Mutual Funds, AIFs, NPS Trust, Recognized Provident Funds, Approved Superannuation Funds, Approved Gratuity Funds, and Government entities
  • Lower/Nil withholding possible with certificate under Section 197/395(1) of Income Tax Act

TDS Provisions for Non-Resident Shareholders

  • 20% withholding tax plus applicable surcharge and cess under Section 393(2) [Table Sl. No. 17]
  • Different rates for GDRs and FII/FPIs as per Section 393(2) [Table Sl. No. 15]
  • 30% tax for shareholders from Notified Jurisdictional Areas
  • DTAA benefits available upon submission of PAN copy, Tax Residency Certificate, electronically filed Form 41, declaration of treaty eligibility and beneficial ownership, and declaration of no Permanent Establishment in India
  • Additional requirements for Singapore tax residents and FII/FPIs

Documentation Deadlines

All tax-related documents must be submitted on or before Friday, 26th June 2026 to enable appropriate TDS determination. No communications will be entertained after this date.

Additional Provisions

  • PAN-Aadhar linking requirement under Section 262, with 20% TDS for non-compliance
  • Declaration under Rule 203 of Income Tax Rules, 2026 required by 4th July 2026 for cases where dividend income is assessable to tax in hands of person other than registered shareholder
  • Higher tax rate applied across all accounts for shareholders with multiple accounts under different status/category with single PAN
  • NSDL's Tax Service available for certain institutional members
  • TDS certificates will be emailed to registered email IDs post dividend payment