Dividend Declaration

Board of Directors at their Meeting held on May 30, 2026 recommended a Final Dividend of Rs. 1.50 per Equity Share of Rs. 10/- each (15%) for the Financial Year ended March 31, 2026. The dividend is subject to shareholder approval at the ensuing Annual General Meeting to be held on September 30, 2026.

Tax Compliance Requirements

Pursuant to Income Tax Act, 2025, dividend income is taxable in the hands of shareholders. The Company is required to deduct taxes at source (TDS) at applicable rates on dividend distributed.

TDS Rates and Conditions

  • For Resident Shareholders: TDS under Section 393(1) read with 393(4) at 10% on dividend exceeding INR 10,000
  • Higher rate of 20% under Section 397(2) if PAN is invalid/inoperative
  • PAN-Aadhaar linkage mandatory under section 262 of Income Tax Act, 2025
  • Company will rely on income tax department reports for PAN validity checks

Submission Deadlines

All tax-related documents must be submitted by Tuesday, September 08, 2026, up to 05:00 pm (IST). Communications received after this deadline will not be considered.

Shareholder Categories and Requirements

1. Resident Shareholders - Individuals

  • TDS applies if aggregate dividend exceeds Rs. 10,000 during tax year 2026-27
  • Required to submit Form 121 (Declaration for receipt of dividend without deduction of Tax) by September 8, 2026
  • Can submit through NSDL or CDSL depositories electronically
  • Alternatively upload on MUFG portal: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html or email to Csg3exemptionforms2627@in.mpms.mufg.com

2. Resident Shareholders - Other than Individuals

Exempt Categories:
  • Insurance Companies (Annexure-2 declaration)
  • Mutual Funds (Annexure-3 declaration)
  • Category I/II Alternative Investment Funds registered with SEBI (Annexure-4 declaration)
  • Other entities with tax exemption status under Circular 18/2017 (Annexure-5 declaration)

3. Non-Resident Shareholders

Required documents for DTAA benefits:

  • Tax Residency Certificate (TRC) for tax year 2026-27
  • Form 41 (for claiming Tax Treaty Relief) from e-filing portal
  • PAN card copy or information under Rule 217(2) (Annexure-7)
  • Self-declaration of beneficial ownership (Annexure-8)
  • Self-declaration of no permanent establishment in India (Annexure-9)
  • Submit to investors@valiantcom.com

Additional Provisions

  • Multiple accounts under single PAN: Highest applicable tax rate will be considered on entire holding
  • Transfer of credit to beneficial owner: Declaration required under Rule 203 (Annexure-4 sample format)
  • Joint shareholders: Declaration required for TDS credit allocation (Annexure-10)

Shareholder Administrative Requirements

  • Update tax residential status, PAN, email, mobile numbers through depositories (dematerialized shares) or RTA (physical shares)
  • Ensure bank account details attached to Demat accounts are updated
  • Physical shareholders must ensure folio KYC compliance for dividend release

TDS Certificate and Refund Process

  • Company will email soft copy of TDS certificate to registered email IDs
  • TDS credit available in Form 16B from e-filing portal: https://eportal.incometax.gov.in/iec/foservices/#/login
  • Shareholders can file income tax returns to claim refund if TDS deducted at higher rates

Disclaimer

The communication shall not be treated as tax advice. Shareholders should obtain professional tax advice regarding their tax matters.

Annexures Included

The document includes 10 annexures with detailed forms and declarations:

  • Annexure-1: Form 121 for receipt of income without deduction of tax
  • Annexure-2: Declaration by Insurance Companies
  • Annexure-3: Declaration by Mutual Funds
  • Annexure-4: Declaration by AIFs
  • Annexure-5: Declaration for exemption under Circular 18/2017
  • Annexure-6: Joint shareholder declaration for TDS credit transfer
  • Annexure-7: Information under Rule 217(2) for non-residents
  • Annexure-8: Self-declaration of beneficial ownership
  • Annexure-9: Self-declaration of no permanent establishment
  • Annexure-10: Joint shareholder declaration for dividend payout