Transport Corporation of India Limited Declares Final Dividend and Details TDS Provisions for FY26

Transport Corporation of India Limited Declares Final Dividend and Details TDS Provisions for FY26​

Transport Corporation of India Limited announced a final dividend recommendation for financial year ended March 31, 2026, along with detailed communications regarding the applicable Tax Deduction at Source (TDS) provisions. The Board of Directors recommended the dividend on May 26, 2026.

The company's management stated that the recommended final dividend is Re. 1/- per equity share, which has a face value of Rs. 2/- each. This dividend is subject to approval by shareholders at the Annual General Meeting (AGM), which is scheduled for Thursday, July 30, 2026, and will be conducted through Video Conferencing (VC).

Shareholders holding shares as on the record date, set for Friday, July 17, 2026, are eligible to receive this dividend.

Tax Deduction at Source Details​

The company confirmed that amendments introduced in the Income Tax Act, 2025 necessitate withholding taxes on the dividend payment. The specific withholding tax rate varies based on the residential status, category of the shareholder, and the documents submitted for verification.

Resident Shareholders TDS Structure​

For resident shareholders, the tax deduction rates are structured based on documentation compliance:


Additionally, specific categories of shareholders are granted nil deduction: Public and Other Insurance Companies and persons covered under Section 393 of the Act (such as Mutual Funds or Government entities) are eligible for a NIL tax rate upon submitting necessary documentary evidence.

Non-Resident Shareholders TDS Structure​

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 lower rate specified under the Double Taxation Avoidance Agreement (DTAA).

To avail the DTAA rate, non-resident shareholders must submit documentation, including:

• Self-attested copy of Tax Residency Certificate (TRC) for the current financial year.
• Self-declaration in Form 41 if details are not included in the TRC.
• Self-attested copy of Permanent Account Number (PAN Card), if available.

The company emphasized that the application of beneficial DTAA rates is contingent upon the completeness and satisfactory review of the submitted documents.

Dividend Payment and Documentation Mandates​

Shareholders were advised that payment for shares held in physical mode must be made electronically, a mandate aligned with updated requirements. Shareholders holding physical shares are requested to furnish their PAN, Contact Details (Postal Address with PIN and Mobile Number), Bank Account Details, and Specimen Signature to the Registrar and Share Transfer Agent (RTA).

The company stressed that shareholders holding multiple accounts or folios under a single PAN may face TDS deduction at the applicable higher rate on the entire shareholding.

All relevant documents for determining the appropriate TDS/withholding tax rate must be submitted online to the RTA by Monday, July 20, 2026. The company confirmed that once this deadline passes, any discrepancy in the submitted documents will result in the deduction of tax at the higher applicable rate without further communication.

Shareholders were informed that they can view the credit of TDS in Form 26AS downloaded from their efiling account.

TCI Stock Price Movement​

Transport Corporation of India Limited shares are rallying to ₹935.8 as of 3:22 PM today, pushing up by ₹7.15 or 0.77% in live trading. The stock maintains robust interest with a volume of 15,690 shares transacted during the current market session.