Cords Cable Industries Recommends Dividend and Issues Tax Deduction At Source Guidelines for Shareholders
The Board of Directors of Cords Cable Industries Limited has recommended a dividend for its shareholders, along with detailed guidance concerning the applicable Tax Deduction at Source (TDS) on the payment. The recommendation was made during a board meeting held on Thursday, May 28, 2026.The Company recommended a dividend of Rs. 1.20/- per equity share, which represents 12% of the face value. This dividend is associated with the Financial Year ended March 31, 2026, and is subject to formal approval by the Members of the Company at the ensuing Annual General Meeting.
TDS Requirements on Dividend Payout
In line with the provisions of the Income-tax Act, 2025, dividend paid and distributed by a company is taxable in the hands of its members, necessitating TDS deduction at the time of payment based on applicable rates. The tax rate varies depending on the shareholder's residential status and specific category.The Company provided guidelines for TDS calculation covering resident and non-resident shareholders:
| Shareholder Category | TDS Rate |
|---|---|
| Individual with valid PAN and dividend less than Rs. 10,000 | Nil |
| Individual with valid PAN and dividend greater than Rs. 10,000 | 10% |
| Individual without PAN or with invalid/inoperative PAN | 20% |
| Other non-individual residents | 10% |
| Mutual Funds and Insurance Companies | Nil |
For Non-Resident Shareholders, the TDS rate is set at 20% plus applicable surcharge and cess. If a resident individual’s total dividend paid during Tax Year (TY) 2026-27 does not exceed Rs 10,000/-, no tax will be deducted on that payment.
Documentation and Deadlines
The Company specified several deadlines for shareholders seeking exemptions or applying international treaty benefits. Shareholders must submit necessary declarations and documents by August 31, 2026.For Resident Shareholders eligible for exemption, a completed and signed Form No. 121 must be submitted within the specified timeframe.
Non-Resident Shareholders wishing to apply beneficial rates under the Double Tax Avoidance Agreement (DTAA) are required to submit several documents by August 31, 2026. These requirements include:
- Self-attested copy of PAN or relevant contact details and address proof.
- Tax Residency Certificate (TRC) for FY 2026-27.
- Form 41 for FY 2026-27, filed electronically on the Income Tax Department website.
- A prescribed self-declaration form.
The Company noted that in cases where documentation is incomplete or incorrect, TDS may be deducted at a higher rate, and shareholders are advised to claim a refund by filing their income tax return.
CORDSCABLE Stock Price Movement
Cords Cable Industries Limited shares today rallied significantly, gaining 3.07% to settle at ₹211.2 in post-market trading. The stock traded within a range of ₹206.01 and ₹213.99 during the session, recording a volume of 12,927 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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