Kotak Mahindra Bank Recommends ₹0.65 Dividend, Details TDS Provisions

Kotak Mahindra Bank Limited has announced its Board of Directors has recommended a dividend of ₹0.65 per Equity Share for the financial year ended March 31, 2026. This recommendation is subject to shareholder approval at the 41st Annual General Meeting scheduled for August 1, 2026. The record date for determining eligible shareholders is July 17, 2026. The bank also provided detailed information regarding the deduction of tax at source (TDS) on dividends as per the Income-tax Act, 2025. Shareholders are urged to update their details such as PAN, residential status, and category to ensure correct TDS application. For resident shareholders, TDS is generally 10% if PAN is valid, increasing to 20% if PAN is invalid. Exemptions and lower TDS rates apply to specific categories like insurance companies, mutual funds, and AIFs upon submission of necessary declarations and documents.