TCI Recommends Final Dividend of Re 1 Per Share for FY26; Outlines TDS Structure

TCI Recommends Final Dividend of Re 1 Per Share for FY26; Outlines TDS Structure​

Transport Corporation of India Limited (TCI) announced the recommendation of a final dividend for the financial year ended March 31, 2026. The Board of Directors recommended a final dividend of Re 1/- per equity share against a face value of Rs 2/- each.

The decision was made during a Board meeting held on May 26, 2026, and is subject to shareholder approval at the upcoming Annual General Meeting (AGM) scheduled for Thursday, July 30, 2026, which will be conducted via Video Conferencing. The dividend payment is slated for shareholders holding shares as of the record date, set for Friday, July 17, 2026.

TDS Structure and Shareholder Requirements​

TCI informed shareholders that tax deduction at source (TDS) will be applicable on the final dividend payments. The withholding tax rate varies based on the residential status, category, and supporting documentation submitted by the shareholder.

The company provided detailed instructions for different categories of shareholders regarding the applicable TDS rates:

Resident Shareholders​

Residents who submit necessary documentation are subject to various withholding rates as follows:


Additionally, specialized categories like Insurance Companies and persons covered under Section 393 of the Act are entitled to a NIL tax deduction rate, provided they submit the requisite documentary evidence.

Non-Resident Shareholders​

Non-resident shareholders, including Foreign Institutional Investors (FII) and Foreign Portfolio Investors (FPI), face a withholding tax rate of 20% (plus surcharge and education cess as applicable) or the rate determined by Double Taxation Avoidance Agreement (DTAA), whichever is lower.

For non-residents seeking the benefit of the DTAA, specific documentation is required, including:

• Self-attested copy of Tax Residency Certificate (TRC) for the current financial year from the tax authorities of their resident country.
• Self-declaration in Form 41, if the TRC does not contain all necessary details.
• Self-attested copy of PAN Card, if available.

Documentation Deadline and Compliance​

Shareholders are advised that the timely submission of required forms and documents is critical for determining the correct TDS/withholding tax rate. All applicable documentation must be submitted by Monday, July 20, 2026.

TCI noted that shareholders who hold shares in multiple accounts with different statuses under a single PAN may face deduction at the higher applicable TDS rate on their entire shareholding. The company stated that in case of any discrepancy in the documents submitted by the shareholder, tax will be deducted at the higher applicable rate without further communication.

Shareholders are also reminded that no claim will lie against TCI regarding taxes deducted after July 20, 2026.

IRBINVIT Stock Price Movement​

IRB InvIT Fund shares today slipped by 0.51% to settle at ₹60.68 in post-market trading. The stock saw a total traded volume of 779,302 shares during the session.