Dividend Details

  • Final dividend recommended: ₹1.50 per equity share of face value ₹10 each
  • Financial year: Ended March 31, 2026
  • Board meeting date: May 25, 2026
  • Shareholder approval required at: Annual General Meeting scheduled on August 11, 2026
  • Record date for dividend entitlement: Friday, July 31, 2026
  • Register of Members closure period: August 5, 2026 to August 11, 2026 (both days inclusive)

TDS Implementation Framework

The dividend income is taxable in shareholders' hands under Income Tax Act, 2025 as amended by Finance Act, 2026, effective April 1, 2026. The company is required to deduct tax at source 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 electronic dividend payments effective April 1, 2024. Dividend will be withheld if KYC details are not updated with the Registrar and Transfer Agent, Maheshwari Datamatics Pvt. Ltd.

TDS Rates for Resident Members

| Category | Rate | Documentation Required |

| Dividend ≤ ₹10,000 annually | NIL | None |

| Dividend > ₹10,000 with PAN | 10% | PAN verification with depository/RTA |

| Without PAN/Invalid PAN | 20% | None |

| Non-linking of PAN-Aadhaar | 20% | None |

| Form 121 submission | NIL | Declaration form for exemptions |

| Section 395 order | As per order | Lower/NIL withholding certificate |

| Mutual Funds under Section 393(5)10 | NIL | Self-declaration + PAN + registration certificate |

| Alternative Investment Funds | NIL | Documentary evidence + declaration |

| New Pension System Trust | NIL | Self-declaration + PAN |

| Other exempt shareholders | NIL | Documentary evidence + PAN |

TDS Rates for Non-Resident Members

| Category | Rate | Documentation Required |

| General non-residents | 20% + surcharge + cess | PAN verification, residential status |

| FIIs/FPIs | 20% + surcharge + cess | SEBI registration certificate |

| DTAA beneficiaries | Treaty rate or 20% (lower) | PAN + TRC + Form 10F + self-declaration |

| Section 197 order | As per order | Lower withholding certificate |

Critical Documentation Requirements

  • PAN mandatory: Invalid PAN results in 20% TDS
  • Aadhaar-PAN linking required: Unlinked PAN considered inoperative (20% TDS)
  • Document submission deadline: July 31, 2026, 23:59 hours
  • Submission method: Only through specified links at https://mdpl.in
  • Physical documents: Not accepted via email or hand delivery
  • Joint shareholders: First-named shareholder must provide documents
  • Multiple accounts: Highest applicable tax rate applied across all holdings under single PAN

Additional Provisions

  • TDS certificates will be emailed to registered email IDs
  • TDS credit visible in Form 168 via income tax e-filing portal
  • Company uses depository/RTA records for TDS determination; no revision requests entertained
  • Shareholders may claim refunds via income tax returns if excess TDS deducted
  • Rule 37BA applies for income assessable in other than deductee's hands

Disclaimer

The communication summarizes tax provisions and does not constitute complete tax analysis. Shareholders should consult their tax advisors.

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