Date: August 17, 2026

Dividend Declaration

  • Final dividend recommended @100% i.e. ₹10 per equity share (face value ₹10) for FY ended March 31, 2026
  • Dividend subject to shareholder approval at upcoming Annual General Meeting (AGM)
  • Record date fixed: Friday, August 28, 2026 for determining shareholder eligibility
  • Dividend payment to be made within 30 days from AGM date

TDS Procedures for Resident Shareholders

  • Default TDS rate: 10% under Section 393(1) r.w.s 393(4) of Income Tax Act, 2025
  • No TDS if dividend amount ≤ ₹10,000 for resident individual shareholders in financial year
  • Higher TDS rate of 20% applicable if:
  • PAN not available/invalid/inoperative
  • PAN not linked with Aadhaar (deemed inoperative per Section 262)
  • TDS exemption available for specific categories upon document submission by August 28, 2026:
  • Resident individuals (dividend > ₹10,000): Form No. 121 with valid PAN linked
  • Entities exempt under Section 393(4) (LIC, GIC etc.): Self-declaration with evidence
  • Entities under Section 393(5) (Government, RBI, Mutual Funds etc.): Self-declaration with evidence
  • Category I/II Alternative Investment Funds: Self-declaration with SEBI registration
  • Mutual Funds: Self-declaration with SEBI registration certificate
  • NPS Trust: Self-declaration with Section 11 evidence
  • Recognized provident funds/approved superannuation/gratuity funds: Evidence per CBDT Circular 18/2017
  • Any resident shareholder exempt from TDS: Supporting documentary evidence
  • Lower withholding certificate under Section 395(1): Self-attested PAN with certificate

TDS Procedures for Non-Resident Shareholders

  • Default TDS: Rates in force plus applicable surcharge and cess under Section 393(2)
  • Higher rate of 20% plus surcharge/cess if documents not furnished by August 28, 2026
  • Specific categories:
  • FIIs/FPIs/Other Non-Residents: 20% plus surcharge/cess OR beneficial tax treaty rate

Documents required: FPI registration certificate, Tax Residency Certificate, Form 41 for FY26-27, PAN/declaration, self-declaration for PE absence and beneficial ownership

  • Indian Branch of Foreign Bank: 35% plus surcharge/cess OR nil if Section 395(1) certificate

Documents required: Lower tax deduction certificate, self-declaration for own account income

  • Any non-resident exempt from WHT: Supporting documentary evidence

General Provisions

  • Shareholders with multiple accounts under single PAN: Highest applicable tax rate considered across all holdings
  • Declaration under Rule 203 required if dividend income assessable by person other than deductee
  • Shareholders must update bank account details in demat accounts/physical folios for direct credit
  • Details update required before record date: PAN, tax residential status, email, mobile numbers
  • Demat holders: Update through depository participants
  • Physical holders: Update with MUFG Intime India Private Limited (RTA)

Document Submission

  • Tax exemption forms available at: https://web.in.mpms.mufg.com/client-downloads.html under 'General' tab
  • Document submission portal: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html
  • Deadline for document submission: Friday, August 28, 2026
  • No communications on tax determination considered after deadline
  • Higher TDS deduction may be refunded via income tax return if eligible