GIC Recommends ₹13.25 Dividend; TDS Applicable from FY26

General Insurance Corporation of India (GIC Re) has informed shareholders about the upcoming dividend payment and the implications of the Income Tax Act, 2025. The Board of Directors recommended a dividend of ₹13.25 per equity share for FY 2025-26, subject to shareholder approval at the 54th AGM. The record date is set for September 4, 2026. Due to changes in the Income Tax Act, dividend income will be taxable in the hands of shareholders, requiring GIC Re to deduct Tax at Source (TDS) at prescribed rates. For resident shareholders, TDS will be 10% unless exempt, with a threshold of ₹10,000 for individuals. PAN linkage with Aadhaar is mandatory; failure to comply will result in a 20% TDS rate. Specific documentary requirements are outlined for certain entities seeking exemption.