Godrej Properties Recommends Dividend of Rs 10 Per Share, Outlining Tax Deduction Procedures

<h1>Godrej Properties Recommends Dividend of Rs 10 Per Share, Outlining Tax Deduction Procedures</h1>

Godrej Properties Limited announced the recommendation of a dividend amounting to Rs 10 per equity share for the Financial Year ending March 31, 2026. The Board of Directors recommended this dividend during its meeting held on May 4, 2026.

The Company set Tuesday, July 28, 2026, as the record date to determine which members are entitled to receive the dividend. If approved by the shareholders at the forthcoming Annual General Meeting (AGM), scheduled for Tuesday, August 4, 2026, the dividend will be paid within 30 days from the AGM date.

The Board noted that under the Income Tax Act, 2025, dividends distributed by the Company are taxable in the hands of the shareholders. Consequently, Godrej Properties Limited will deduct tax at source (TDS) at the applicable rates when the dividend is paid, pending shareholder approval at the AGM.

TDS and Withholding Tax Structure​

The communication detailed several categories for withholding tax under the Act, differentiating provisions for Resident and Non-Resident shareholders.

For resident non-individuals, the Company specified different tax deduction rates based on the entity type. The structure includes zero deduction (NIL) for certain entities provided they submit requisite documentation, such as:

• Insurance Companies
• Mutual Funds
• Alternative Investment Funds (AIF) established or incorporated in India
• Recognized Provident Fund
• Approved Superannuation Fund / Approved Gratuity Fund
• National Pension Scheme
• Shareholders whose income is unconditionally exempt and covered under Schedule VII of the Income-tax Act, 2025

One category for resident shareholders was noted to be subject to a higher rate. Shareholders without PAN or with invalid/deleted PAN will face TDS at a rate of 20% under Section 397(2) of the Act.

Non-Resident Shareholder Taxation​

For non-resident shareholders, tax is required to be deducted at source (TDS) under Section 393(2) of the Act at a rate of 20%, plus applicable surcharge and cess, unless an exemption applies. Foreign Institutional Investors (FII), Foreign Portfolio Investors (FPI), and other non-residents are subject to this TDS rate or the lower rate specified in any Double Taxation Avoidance Agreement (DTAA).

To avail DTAA benefits, non-resident shareholders must provide specific documents, including a copy of PAN, self-attested Tax Residency Certificate (TRC) issued by the relevant tax authorities, and Form 41 filed electronically on the Indian Income Tax web portal.

The dividend information and TDS requirements are critical for all shareholders, who are requested to ensure their details such as Permanent Account Number (PAN), residential status, category of shareholder, email ID, and address are accurately updated with their depository participants.

GODREJPROP Stock Price Movement​

Today, shares of Godrej Properties Limited edged higher to settle near ₹2029.80 after rising 2.61%. The stock traded with a volume of 483,832 shares, successfully navigating an intraday range that stretched between a low of ₹1984.1 and a high of ₹2044.5.