Symphony Limited Declares Interim Dividend; Provides Comprehensive TDS Guidelines for Shareholders
Symphony Limited has announced an interim dividend following a resolution by its Board of Directors, setting out specific guidelines regarding Tax Deduction at Source (TDS) for all shareholders. The board meeting was held on August 04, 2026.The company declared an Interim Dividend amounting to ₹ 1.00 (50%) per equity share, against the face value of ₹ 2.00 per share, applicable for the financial year 2026-27.
Shareholders who are in the Register of Members as of the record date, Tuesday, August 11, 2026, are entitled to receive this dividend. The company has advised that all dividends will be payable exclusively through electronic modes approved by the Reserve Bank of India, and physical instruments such as cheques or drafts will no longer be issued.
Tax Deduction at Source (TDS) Overview
The communication details TDS provisions in compliance with the Income-tax Act, 2025, noting that dividend declared on or after April 1, 2026, is taxable in the hands of the shareholders. The TDS rate applicable to a shareholder depends on their residential status and the category defined by the company.Mandatory details for all shareholders, whether shares are held in Demat form or physical form, include:
- Residential status (Resident or Non-Resident for TY 2026-27).
- Valid Permanent Account Number (PAN).
- Shareholder category (e.g., Mutual Fund, Foreign Portfolio Investor, AIF Category I and II, etc.).
- Email ID and Address.
TDS Provisions by Shareholder Category
The company provided differentiated TDS rates and documentation requirements based on the shareholder's status.Resident Shareholders:
| Category of Shareholder | Rate of Tax | Key Requirements/Applicability |
|---|---|---|
| Mutual Funds (registered with SEBI) | 0% | No TDS required, subject to specified conditions and declaration compliance. |
| Category I and II AIFs | 0% | No TDS required, provided a copy of valid SEBI registration certificate and necessary declarations are submitted. |
| Other Resident Shareholders | 10% | TDS is generally 10%. Exemption may apply if the aggregate dividend distributed to an individual shareholder does not exceed ₹ 10,000/- or upon furnishing Form 121. Rate is 20% if a valid PAN is unavailable. |
| NPS Trust | 0% | Requires self-declaration that it qualifies as an NPS trust and income is eligible for exemption. |
| Recognized Provident Fund | 0% | Requires a self-attested copy of the order from the Commissioner under Rule 3 of Part A of Fourth Schedule to the Act. |
Non-Resident Shareholders:
The TDS rate for Non-Resident Foreign Institutional Investors (FPIs) and Foreign Institutional Investors (FIIs) is set at 20% plus applicable surcharge and cess, as per Section 393(2) of the Act.
| Category of Shareholder | Rate of Tax | Key Requirements/Applicability |
|---|---|---|
| FPIs and FIIs | 20% | TDS is required at the rate of 20%. Shareholders have an option to be governed by the Double Tax Avoidance Treaty (DTAA) if it is more beneficial. |
| Category I and II AIFs | 0% | No TDS is required, provided a copy of a valid SEBI registration certificate and necessary declarations are submitted. |
Important Operational Notes for Investors
Shareholders were reminded that all documents related to the tax declaration must be completed or updated before the record date of August 11, 2026. For shareholders holding shares in physical form, specific documentation (such as Form ISR-1 and a cancelled cheque) needs to be submitted to the Registrar and Share Transfer Agent (RTA), Bigshare Services Private Limited.A key point emphasized by the company is that all applicable rates will be enhanced by surcharge and cess wherever necessary.
In case tax is deducted at a higher rate in the absence of provided documents, shareholders are advised that they can claim a refund of the excess tax by filing their income tax return, though no claim shall lie against the company for such taxes deducted.
SYMPHONY Stock Price Movement
Symphony Limited shares today slipped, settling at ₹672.30 after closing down 1.43%. The equity saw a total traded volume of 507,063 shares in the post-market session.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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