Garware Hi-Tech Films Limited has declared a final dividend of ₹12.00 per equity share for the Financial Year ended March 31, 2026. The dividend is subject to shareholder approval at the upcoming Annual General Meeting on September 23, 2026. The company has provided detailed information on tax deduction at source (TDS) for both resident and non-resident shareholders, including rates and required documentation. Shareholders are advised to submit necessary forms by September 10, 2026.
Final Dividend Declared
The Board of Directors of Garware Hi-Tech Films Limited (the Company) has declared a final dividend of ₹12.00 per fully paid-up equity Share (120%) for the Financial Year ended March 31, 2026. This declaration is contingent upon the approval of shareholders at the Annual General Meeting (AGM) scheduled for Wednesday, September 23, 2026. The record date for determining eligible shareholders is set as Wednesday, September 16, 2026.
Tax Deduction at Source (TDS) for Residents
For resident shareholders, tax is to be deducted at source as per the Income-tax Act, 2025. A 10% TDS rate will apply on the dividend amount if shareholders have registered their valid Permanent Account Number (PAN). If PAN is not registered, invalid, or inoperative, a 20% TDS rate will be applicable. For resident individuals, no tax will be deducted if the total dividend received does not exceed ₹10,000/- in FY 2026-27, or if they furnish a valid Form 121 or an exemption certificate.
TDS for Non-Residents
Non-resident shareholders will have tax withheld at a rate of 20% (plus applicable surcharge and cess) on the dividend amount. They can opt for beneficial rates under the Double Tax Avoidance Agreement (DTAA) by providing necessary documentation, including a Tax Residency Certificate (TRC) and other declarations. It is recommended that shareholders independently verify their eligibility for DTAA benefits.
Submission of Documents
Shareholders are requested to submit all required tax-related documents, such as Form 121, declarations, and certificates, by Thursday, September 10, 2026, 7:00 PM (IST). Documents submitted after this cut-off date may not be accepted. The company will utilize the Income-tax department’s functionality to determine the appropriate withholding tax rate.
Dividend Payment and Bank Details
Once declared, the dividend will be paid after deducting applicable taxes at source. Shareholders are urged to ensure their bank account details are updated in their demat accounts or physical folios for direct credit of the dividend. For physical folio holders, dividend payments will be made strictly through electronic mode, requiring PAN, nomination, contact details, and bank account information.
Source: BSE
