Cochin Shipyard Limited announced its 01st interim dividend of ₹3.00 per equity share for the financial year 2026-27, with a total payout of 60% on face value. The dividend will be paid by December 09, 2026. The communication also details the Tax Deduction at Source (TDS) requirements for both resident and non-resident shareholders, emphasizing the mandatory linking of PAN and Aadhar and the submission of relevant forms by November 16, 2026 to avail tax benefits.
Interim Dividend and Payout Schedule
The Board of Directors of Cochin Shipyard Limited (CSL) declared the 01st interim dividend of ₹3.00 (60%) per equity share of face value ₹5 for the financial year 2026-27. This dividend is scheduled to be paid by December 09, 2026, which is within 30 days from the declaration date. The entitlement for this dividend is for shareholders who are members of the company as of the record date, which is Monday, November 16, 2026.
Tax Deduction at Source (TDS) for Resident Shareholders
As per the Income Tax Act, dividend payouts are subject to TDS. For resident individual shareholders, TDS will not apply if the aggregate dividend distributed during FY 2026-27 does not exceed ₹10,000. Tax exemption is also possible by furnishing Form 121, subject to eligibility conditions. For amounts exceeding the threshold or where Form 121 is not provided, TDS will be deducted at 10% under Section 393(1) of the Income Tax Act. Importantly, linking of PAN and Aadhar is mandatory. Failure to link PAN with Aadhar will result in the PAN being treated as invalid, leading to TDS deduction at 20% as per Section 397. Shareholders are urged to update their PAN with their Depository Participants and verify record correctness.
TDS Requirements for Non-Resident Shareholders
Non-resident shareholders are subject to TDS in accordance with Section 393(2) of the Income Tax Act. The applicable TDS rate is 20% (plus surcharge and cess) on the dividend payout. To avail benefits of Double Taxation Avoidance Agreement (DTAA), eligible non-resident shareholders must submit specific documents, including a Tax Residency Certificate and other declarations, via the RTA’s portal by November 16, 2026. The company is not obligated to apply beneficial DTAA rates unless satisfactory documentation is provided.
Important Dates and Submission Procedure
The record date for the 01st Interim Dividend 2026-27 is fixed as November 16, 2026. All required documents for tax benefits must be uploaded to the Company’s RTA portal (MUFG Intime India Private Limited) by this date. Submissions via email or any other method will not be considered. Shareholders are advised to verify and update their records with Depository Participants. The company will issue Form 131 (TDS on Dividend) and shareholders can view TDS credit in Form 168 on the Income Tax e-filing portal.
Disclaimer: This communication is for informational purposes and not tax advice. Shareholders should consult a tax professional for any tax-related matters.
Source: BSE
