Dividend Recommendation

The Board of Directors of Siemens Limited, at its meeting held on May 26, 2026, recommended a dividend of ₹18 per equity share of ₹2 each for the eighteen-month Financial Year ended March 31, 2026.

Key Dates and Conditions

  • Record Date: To be announced by the Company in due course
  • Dividend Payment: Contingent upon approval at the ensuing Annual General Meeting (AGM)
  • Document Submission Deadline: Wednesday, July 29, 2026
  • Tax Year Applicable: 2026-27 (April 2026-March 2027)

TDS Provisions and Rates

For Resident Members

  • Standard Rate: 10% under Section 393(1) Table Sl. No. 7 of the Income-tax Act, 2025, for members with valid PAN
  • Higher Rate: 20% under Section 397(2) for members without PAN or with invalid PAN (due to non-linking of Aadhaar)

Exemptions for Resident Individuals

  • No TDS if total dividend paid during TY 2026-27 is up to ₹10,000 (Section 393(4) Table Sl. No. 10)
  • No TDS upon submission of duly filled and signed Form 121 (Annexure 1) if all eligibility conditions are met

Exemptions for Resident Non-Individuals

No TDS upon submission of required documents as per Annexure 2 format for:

  • Insurance Companies: Self-declaration of beneficial interest + self-attested PAN copy
  • Mutual Funds: Self-declaration of being specified in Schedule VII (Table: Sl. No. 20 or 21) read with Section 11 + self-attested PAN copy + registration certificate
  • Alternative Investment Fund (AIF): Self-declaration of exemption under Schedule V [Table: Sl. No. 1] read with Section 11 + governed by SEBI as Category I or II AIF + self-attested PAN copy + registration certificate
  • National Pension System Trust: Declaration + supporting exemption evidence + self-attested PAN copy
  • Other Non-Individual Members: Self-attested documentary evidence supporting exemption + self-attested PAN copy

Lower/NIL Withholding Certificate

For both Resident Individuals and Non-Individuals, if a certificate under Section 395(1) for lower/NIL withholding is provided, the rate specified in the certificate will be considered upon submission of a self-attested copy.

For Non-Resident Members

  • Standard Rate: 20% (plus applicable surcharge and cess) under Section 393(2) [Table Sl. No 17]
  • Lower Rate Option: Possible with certificate under Section 395(1) for lower/NIL withholding upon submission of self-attested copy
  • Tax Treaty Benefits: Option to be governed by Double Tax Avoidance Treaty (DTAA) provisions requires submission of:
  • Self-attested PAN copy
  • Tax Residency Certificate (TRC) for April 2026-March 2027
  • Electronically furnished Form 41 and its acknowledgement
  • Self-declaration of no Permanent Establishment in India and beneficial ownership (Annexure 3 format)
  • For FIIs/FPIs: Self-attested SEBI registration certificate
  • For Singapore tax residents: Evidence demonstrating non-applicability of Article 24 (Limitation of Relief) under India-Singapore Tax Treaty

Special Provisions

  • Aadhaar-PAN Linking: PAN deemed invalid if not linked with Aadhaar per Section 262, resulting in 20% TDS under Section 397(2). The Company will use Income-tax Department functionality to determine PAN status.
  • Multiple Accounts: For members holding shares under multiple folios/demat accounts with different statuses but single PAN, the higher applicable tax rate will be applied to the entire holding.

Submission Process

  • Method: Send scanned copies of documents to email id: csgexemptforms2627@in.mpms.mufg.com
  • Deadline: Wednesday, July 29, 2026
  • Consequence of Late Submission: No communication on tax determination/deduction entertained post-deadline. If tax is deducted at a higher rate, members may file an income-tax return to claim an appropriate refund if eligible.
  • Alternative Submission for Institutions: Resident Non-Individual Members (Insurance companies, Mutual Funds, AIF) and Non-Resident Non-Individual Members (FIIs, FPIs) may submit documents through their respective custodians registered on the NSDL platform by the same deadline.

Payment Method and Account Update

Dividend will be paid only in electronic form as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Members must ensure their bank details are updated:

  • Demat Holders: Update details with their Depository Participant (DP)
  • Physical Shareholders: Update via Form ISR-1, ISR-2, and ISR-3 (as applicable) to MUFG Intime India Private Limited, the Registrar and Share Transfer Agent. The company also appeals for conversion from physical to demat mode.

Disclaimer

The communication explicitly states it shall not be treated as tax advice from the Company or its Registrar & Share Transfer Agent.

Attachments

The communication includes three annexures:

  • Annexure 1: Format of Form 121 (Declaration under section 393(6) for receipt of certain incomes without deduction of tax)
  • Annexure 2: Format for declaration by Resident Non-Individual Members
  • Annexure 3: Format for declaration regarding Tax Residency and Beneficial Ownership for Non-Resident Members