<h1>Mindteck Recommends Final Dividend of Re. 1.00 Per Share for FY2026</h1>
Mindteck (India) Limited has recommended a Final Dividend of Re. 1.00/- per equity share, each having a face value of Re. 10/-, for the Financial Year ended March 31, 2026. The Board of Directors recommended this dividend during a meeting held on May 19, 2026.
The Final Dividend is scheduled to be payable following the approval by shareholders at the Company’s ensuing 35th Annual General Meeting (AGM). This AGM is set for Thursday, August 13, 2026, and the record date for dividend eligibility is August 06, 2026.
As stipulated under the Income Tax Act, 2025, any dividend paid or distributed by a company is taxable in the hands of the shareholders. Consequently, the Company is required to deduct tax at source (TDS) upon the payment of the dividend, provided it is declared at the AGM.
TDS Framework for Dividend Payment
The applicable Tax Deduction at Source (TDS) rates are dependent on the residential status and specific categorization of the shareholder.For resident shareholders, different levels of exemption apply based on documentation submitted. For example:
- Any Resident Shareholder with a valid Permanent Account Number (PAN) faces a 10% TDS rate, unless the total dividend payable to that resident individual during Tax Year 2026-27 does not exceed INR 10,000.
- Resident Individuals who furnish Form 121 are eligible for NIL deduction, subject to prescribed conditions under the Act.
- Shareholders without a valid PAN or with an invalid PAN are subject to a 20% TDS rate.
Key categories and rates for resident shareholders are summarized below:
| Category of Shareholder | Tax Deduction Rate | Exemption/Documentation Details |
|---|---|---|
| Resident Individual (with valid PAN) | 10% | Update PAN with Depository Participant or RTA. |
| Resident Individual furnishing Form 121 | NIL | Subject to fulfillment of prescribed conditions under the Act. |
| Insurance Companies | NIL | Requires self-declaration and relevant registration certificates. |
| Mutual Funds / Alternative Investment Funds (Category I & II) / NPS Trust / Approved Superannuation Fund | NIL | Qualification confirmation and requisite documentation required. |
| Resident shareholder without PAN/Invalid PAN | 20% | Tax is deducted under Section 397(2) of the Act. |
For non-resident shareholders, the TDS rate depends on their status and compliance with tax treaty requirements. The rates are as follows:
| Category of Shareholder | Tax Deduction Rate |
|---|---|
| Any Non-Resident Shareholder (including FII/FPI) | 20% (plus applicable surcharge and cess) or beneficial Tax Treaty rate |
| Certificate under Section 395(1) | Rate specified in the certificate |
| Non-Resident shareholders declaring Permanent Establishment in India | 35% (plus applicable surcharge and cess) |
The Company will apply the beneficial Tax Treaty rate only after satisfactorily reviewing all documentation submitted by the non-resident shareholder, subject to compliance with the Income tax Act, 2025.
Shareholders are advised that maintaining a valid PAN is mandatory for tax purposes, and PAN-Aadhaar linking is required for resident shareholders. Failure to submit required documents or provide invalid submissions may result in a higher TDS rate being applied to the aggregate dividend payable.
MINDTECK Stock Price Movement
Mindteck (India) Limited shares shed 0.39% in trading today, settling at ₹199.97 after closing the session. The stock traded over 82,611 shares and bounced between a day low of ₹199.01 and a high of ₹206.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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