Key Event Details

  • The 26th Annual General Meeting (AGM) is scheduled for Thursday, September 24, 2026 at 10:30 a.m. (IST) through Video Conferencing/Other Audio-Visual Means
  • The Board of Directors recommended a final dividend of ₹2 per equity share (face value ₹5 each) for FY 2025-26 at their meeting held on May 9, 2026
  • Record Date for determining eligibility for dividend payment: September 11, 2026
  • Dividend payment will be made within 30 days of AGM approval through electronic modes

Regulatory Compliance Requirements

  • SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024 mandates electronic dividend payments only
  • Physical shareholders must furnish PAN, contact details, bank account details, and specimen signature (KYC) with RTA
  • Regulation 12 of SEBI Listing Regulations (effective November 19, 2025) prohibits dividend payments through physical instruments without registered bank details

Tax Deduction at Source (TDS) Provisions

General TDS Requirements

  • Dividend income taxable in shareholders' hands under Income Tax Act, 2025
  • Company required to deduct TDS at applicable rates for each shareholder category
  • TAN of Company: BLRNOO845F
  • Document submission cut-off date: September 11, 2026

PAN-Aadhaar Linking Requirement

  • Section 262 requires PAN-Aadhaar linking for eligible persons
  • Non-linked PAN deemed invalid/inoperative, triggering 20% TDS under Section 397

Resident Shareholders TDS Rates

  • 10% TDS for shareholders with valid PAN registered
  • 20% TDS for shareholders without PAN/invalid PAN/non-linked PAN
  • Exemptions available for:
  • Resident individuals receiving total dividend ≤ ₹10,000 during FY 2026-27
  • Shareholders furnishing Form 121 (meeting eligibility conditions)
  • Exemption certificate holders from Income-tax Department

Resident Non-Individual Exemptions

Specific documentation required for:

  • Insurance Companies: Self-declaration as 'Insurer' under Section 2(7A) of Insurance Act, 1938 + PAN + IRDA registration
  • Mutual Funds: SEBI registration declaration + PAN + SEBI registration certificate
  • Alternative Investment Funds (AIF): Exemption declaration under Section 11 Schedule V + PAN + SEBI AIF registration
  • NPS Trust: NPS trust declaration + exemption under Section 11 Schedule VII + PAN
  • Other Non-Individuals: Documentary evidence supporting exemption + PAN

Non-Resident Shareholders TDS

  • 20% TDS plus applicable surcharge and cess under Section 393(2)
  • Lower/nil withholding possible with Section 395 certificate
  • DTAA benefits available with submission of:
  • PAN card copy (or name, email, contact, address, foreign TIN if no PAN)
  • Tax Residency Certificate (TRC) for FY 2026-27
  • E-filed Form 41 valid April 2026-March 2027
  • Treaty eligibility and beneficial ownership declaration
  • SEBI registration certificate for FIIs/FPIs
  • Additional documentation for Singapore tax residents regarding Article 24 limitation

Lower Withholding Provisions

  • Section 395 certificates accepted for lower/nil withholding for both resident and non-resident shareholders
  • Certificates must mention Company TAN: BLRNOO845F

Document Submission Process

  • All tax documents must be uploaded at: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html
  • Email submissions not accepted
  • Incomplete/unsigned forms will be rejected
  • Company not obligated to apply DTAA benefits without complete documentation

Rule 203 Declaration Requirements

  • Required when dividend income assessable in hands of person other than deductee
  • Must contain name, address, PAN of actual beneficial owner, payment details, and reasons for credit
  • Required for intermediaries/stock brokers holding shares for beneficial owners
  • Submission deadline: September 11, 2026

Additional Information

  • TDS certificates will be sent to registered email IDs post-dividend payment
  • TDS credit viewable in Form 168 via TRACES portal or Income Tax e-filing website
  • Shareholders can claim refunds in income tax returns if eligible
  • Shareholders responsible for indemnifying Company against any tax demands from misrepresentation
  • RTA: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
  • RTA address: C 101, Embassy 247, L.B.S. Marg, Vikhroli (East) Mumbai - 400083
  • RTA website: www.in.mpms.mufg.com

Disclaimer

This communication is not tax advice. Shareholders should consult tax professionals for specific tax guidance.