Nuvama Wealth Management has declared an interim dividend of ₹14 per equity share for the financial year 2026-27. Shareholders must note the record date of May 15, 2026, to determine eligibility. The company is required to deduct tax at source (TDS) based on the shareholder’s residential status and documentation submitted. Investors are urged to update their tax details and bank information by May 14, 2026, to avoid higher tax withholding rates.
Dividend Announcement Details
The Board of Directors of Nuvama Wealth Management has approved an interim dividend payout of ₹14 per equity share for the 2026-27 fiscal year. The company has designated May 15, 2026, as the record date for identifying the shareholders eligible to receive this dividend.
Tax Deduction at Source (TDS) Overview
In compliance with tax regulations, the company is mandated to withhold tax on dividend distributions. The applicable tax rates depend on the shareholder’s residential status, their Permanent Account Number (PAN) status, and specific declarations provided. Residents without a valid or operative PAN will be subject to a 20% tax deduction, while those with valid PANs may face a 10% deduction unless specific exemptions apply.
Important Action Items for Shareholders
To ensure the correct application of tax rates, shareholders are requested to complete the following by the deadline of Thursday, May 14, 2026:
- Submit Required Declarations: Eligible shareholders, including resident individuals and various institutional categories, should submit the necessary forms and self-declarations via the company’s designated portal.
- Verify Tax Documentation: Non-resident shareholders seeking benefits under Tax Treaties must provide valid Tax Residency Certificates (TRC), Form 10F, and other requisite details to qualify for lower withholding rates.
- Update Bank Records: Ensure all bank account details are correctly updated with the Depository Participant to facilitate the electronic credit of the dividend. Failure to update bank details may result in the non-issuance of physical dividend instruments.
The company will not entertain documentation received after the May 14, 2026 deadline. Shareholders are encouraged to review the provided digital resources for specific forms, including Form 121 and other relevant declarations, to ensure their tax status is correctly reflected.
Source: BSE
