Dividend tax email: Rs. 24 per share First Interim Dividend, TDS at 10% or 20%, documents by November 2
The Board declared a First Interim Dividend of Rs. 24 per equity share of Re. 1 each for FY 2026-27.
By ScoutQuest · · 3 min read
- Interim Dividend (First Interim, FY2026-27)
- Rs. 24 per equity share of Re. 1 each
- Record Date
- November 2, 2026
- Dividend Payment Date
- on and from November 19, 2026
What the company has communicated
At its meeting on October 22, 2026, the Board declared the First Interim Dividend of Rs. 24 per equity share of Re. 1 each for Financial Year 2026-27. It will be paid on and from November 19, 2026 to shareholders whose names appear on the Register of Members on the record date of November 2, 2026. Along with this, the company has sent shareholders an email explaining how tax will be deducted at source (TDS) from that payout.
For resident shareholders
- 10% TDS on the dividend amount where PAN has been provided.
- 20% where PAN is not provided, or PAN is not linked with Aadhaar.
- Nil where the total dividend to be received by a resident individual for the year — counting the Second Interim Dividend for FY 2025-26 paid on June 17, 2026 together with this First Interim Dividend — does not exceed Rs. 10,000.
- Nil for certain categories specified under Section 393(4), and where Form 121 (for resident individuals, including those aged 60 years or more) is submitted and all eligibility conditions are met.
For FPI, FII and other non-resident shareholders
- TDS at 20% on the dividend payable, deducted under the provisions referred to in the communication.
- A non-resident shareholder may instead opt for a lower rate under the Double Tax Avoidance Agreement between India and its country of tax residence, if that is more beneficial.
- These rates are to be enhanced by applicable surcharge and cess where tax is deducted under the Income-tax Act, 2025.
Documents needed to claim a treaty rate
- Self-attested copy of PAN.
- Self-attested Tax Residency Certificate for the period April 2026 to March 2027, translated into English and notarised and apostilled where issued in another language.
- Form 41 for Tax Year 2026-27, shared electronically.
- A self-declaration covering eligibility for treaty benefits (including the Principal Purpose Test), no permanent establishment or fixed base in India, and beneficial ownership of the dividend income.
- For Singapore tax residents, a letter from the competent authority or other evidence on non-applicability of Article 24 on Limitation of Relief.
Deadline and how to submit
The documents must reach the Registrar and Transfer Agent, MUFG Intime India Private Limited (formerly Link Intime India Private Limited), through the dedicated link on or before November 2, 2026, 05:00 PM IST. No communication on tax determination or deduction will be entertained after that time.
Points shareholders should note
- The dividend will be paid after deduction of tax at source, as determined from the documents submitted and found satisfactory.
- Tax once deducted will not be refunded or adjusted against a future payment.
- The company's decision on the applicable TDS rate, based on its review of documents, will be final, and shareholders are allowed to submit documents only once.
- Where tax is deducted at a higher rate for want of documents, a shareholder can still file a return of income and claim a refund from the Income Tax Department, if eligible.
- The communication carries a disclaimer that it is not advice from the company or its Registrar, and shareholders should consult a tax professional.
Bank account and KYC
Dividend payments are to be made only through electronic mode. No dividend will be paid where personal details such as PAN, KYC, contact details, bank account details and specimen signature for the folio are not updated. Shareholders holding shares in physical form should update these with the company or the Registrar, and those holding in electronic form with their Depository Participant. Shareholders are also asked to furnish or update nomination details.
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More numbers
- First Interim Dividend per equity share, FY 2026-27Rs. 24 /-
- Face value per equity shareRe.1/-
- TDS for resident shareholders providing PAN10%
- TDS where no PAN or PAN not linked with Aadhaar20%
- Total dividend threshold for nil TDS (resident individual)Rs. 10,000
- TDS on dividend payable to FPI/FII and other non-residents20%
- TDS where Form 121 is submitted and eligibleNil
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