NewsQuess Corp Files Regulation 30 Disclosure on TDS Communication for Special Interim Dividend of Rs. 3/- Per Share for FY 2025-26Quess Corp Files Regulation 30 Disclosure on TDS Communication for Special Interim Dividend of Rs. 3/- Per Share for FY 2025-26
Quess Corp Limited declared a Special Interim Dividend of Rs. 3/- per equity share at 30% of face value for FY 2025-26, with record date May 08, 2026, and payment on or before May 21, 2026. Pursuant to Regulation 30 of SEBI LODR Regulations, the Company filed a formal disclosure on May 11, 2026, confirming dispatch of TDS communication to shareholders, outlining applicable TDS rates under the Income Tax Act, 2025 for resident and non-resident shareholders, with a document submission deadline of May 10, 2026, 05:00 P.M. IST on the RTA portal.
*this image is generated using AI for illustrative purposes only.
Quess Corp Limited's Board of Directors, at its meeting held on May 04, 2026, declared a special interim dividend of Rs. 3/- per equity share at the rate of 30% of the face value of Rs. 10/- each for the Financial Year 2025-26. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has filed a formal disclosure confirming that it has dispatched an email communication to shareholders regarding the deduction of tax at source (TDS) on the said special interim dividend. The communication was signed and filed by Kundan K Lal, Company Secretary & Compliance Officer (Membership No.: F8393), on May 11, 2026. The record date for determining shareholder entitlement was fixed as Friday, May 08, 2026, and the dividend is scheduled to be paid on or before May 21, 2026, in accordance with the provisions of the Companies Act, 2013.
Dividend Details at a Glance
The key parameters of the special interim dividend are summarised below:
| Parameter: | Details |
|---|---|
| Dividend Type: | Special Interim Dividend |
| Dividend Per Share: | Rs. 3/- |
| Rate: | 30% of face value |
| Face Value: | Rs. 10/- per equity share |
| Financial Year: | 2025-26 |
| Board Declaration Date: | May 04, 2026 |
| Record Date: | Friday, May 08, 2026 |
| Payment Deadline: | On or before May 21, 2026 |
TDS Framework Under the Income Tax Act, 2025
Pursuant to the provisions of the Income Tax Act, 2025, dividends paid or distributed by a company are taxable in the hands of shareholders. Accordingly, Quess Corp is required to deduct tax at source (TDS) at the time of making dividend payment at prescribed rates. The applicable TDS rates vary depending on the residential status of the shareholder and the documents submitted and accepted by the company.
TDS Rates for Resident Shareholders
The following table outlines the TDS rates and documentation requirements for resident shareholders:
| Category of Shareholder: | Tax Deduction Rate | Documents / Exemption Applicability |
|---|---|---|
| Any resident shareholder (With PAN): | 10% — as per Section 393(4) [Table: S.No.10] of the Act | Update/verify PAN and residential status with depositories or RTA (MUFG Intime India Private Limited). PAN must be linked with Aadhaar as per Section 262(9) read with Rule 162 of the Income Tax Rules, 2026; inoperative PAN attracts higher TDS under Section 397(2). |
| Resident Individual — aggregate dividend income not exceeding INR 10,000/- during TY 2026-27: | NIL | No deduction applicable |
| Shareholder exempted via circular/notification: | NIL | Attested copy of PAN and documentary evidence of exemption required |
| Submitting Form 121: | NIL | Eligible shareholder providing Form 121 (Annexure 1) on fulfilment of prescribed conditions; PAN is mandatory |
| Certificate under Section 395(1) of the Act: | Rate provided in the Certificate | Self-attested copy of Lower/NIL withholding tax certificate from Income Tax authorities |
| Insurance Companies (Public & Other): | NIL | Self-declaration of full beneficial interest, self-attested PAN card copy, and registration certificate (Annexure 2) |
| Corporation exempt from income tax under a Central Act: | NIL | Documentary evidence of coverage under Section 196 of the Act (Annexure 2) |
| Mutual Funds: | NIL | Self-declaration of specification in Schedule VII (Table: Sl. No. 20 or 21) of Section 11 of the Act, self-attested PAN card copy, and registration certificate (Annexure 2) |
| Alternative Investment Fund (AIF) established in India: | NIL | Documentary evidence under Notification No. 51/2015 dated 25 June 2015, or self-declaration of income exemption under Schedule V [Table: Sl. No. 1] of Section 11 of the Act, as Category I or II AIF under SEBI regulations, with self-attested PAN card copy and registration certificate (Annexure 2) |
| Recognized Provident Fund: | NIL | Self-attested copy of valid order from Commissioner under Rule 3 of Part A of Schedule XI to the Act, or valid documentary evidence of establishment under the Employees Provident Funds Act, 1952 (Annexure 2) |
| Approved Superannuation Fund / Approved Gratuity Fund / National Pension Scheme Trust: | NIL | Self-attested copy of valid approval under Rule 2 of Part B or Part C of Schedule XI to the Act, as applicable (Annexure 2) |
| Resident shareholder without PAN / Invalid PAN / Inoperative PAN: | 20% — as per Section 397(2) of the Act | Higher rate applies in absence of valid PAN |
Key notes for resident shareholders:
- Recording a valid Permanent Account Number (PAN) for the registered Folio/DP ID-Client ID is mandatory. In the absence of a valid PAN or in case of an inoperative PAN, tax will be deducted at a higher rate of 20% as per Section 397(2) of the Act.
- Shareholders holding shares under multiple accounts under different status/category with a single PAN should note that the higher applicable tax rate will be considered on their entire holding across different accounts.
TDS Rates for Non-Resident Shareholders
The following table outlines the TDS rates and documentation requirements for non-resident shareholders:
| Category of Shareholder: | Tax Deduction Rate | Documents / Exemption Applicability |
|---|---|---|
| Any non-resident shareholder (other than FIIs/FPIs): | 20% (plus applicable surcharge and cess) — as per Section 393(2) [Table Sl. No 17] read with Section 207(1) [Table Sl. No. 1] of the Act, subject to applicable Treaty rate | Self-attested PAN card copy; Tax Residency Certificate (TRC) valid for TY 2026-27 or calendar year 2026; electronically furnished Form 41 and its acknowledgement from the Income Tax portal; self-declaration confirming no Permanent Establishment in India and eligibility for Tax Treaty benefit (Annexure 3); declaration on applicability of treaty provisions including GAAR and MLI provisions (Annexure 4) |
| FIIs / FPIs: | 20% (plus applicable surcharge and cess) — as per Section 393(2) [Table Sl. No 17] read with Section 207(1) [Table Sl. No. 1] of the Act, subject to applicable Treaty rate | All documents as stated above for treaty relief; update/verify PAN and legal entity status with depositories or RTA; declaration on investment route (FDI or FPI); self-attested copy of SEBI Registration certificate |
| Certificate under Section 395(1) of the Act: | Rate provided in the Order | Self-attested copy of Lower/NIL withholding tax certificate from Income Tax authorities |
Key notes for non-resident shareholders:
- Shareholders holding shares under multiple accounts under different status/category with a single PAN should note that the higher applicable tax rate will be considered on their entire holding across different accounts.
- The company is not obligated to apply beneficial tax treaty rates, read with the MLI provision, at the time of tax deduction. The application of the beneficial treaty rate shall depend upon the completeness and satisfactory review of documents submitted by non-resident shareholders.
Document Submission Deadline and Process
All required documents, as detailed in Tables 1 and 2, must be uploaded on the RTA portal at https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html on or before Sunday, May 10, 2026, 05:00 P.M. (IST). No communication or documents received after this deadline will be considered for tax determination or deduction. Email communications to the RTA or the company in this regard will not be accepted. Shareholders are advised to upload documents at the earliest to enable the company to determine the appropriate TDS rates. The company also noted that in the event tax is deducted at a higher rate due to absence of required documents, shareholders retain the option to file a return of income and claim an appropriate refund, if eligible. No claim shall lie against the company for taxes so deducted.
Bank Account Updation and KYC Compliance
Shareholders are requested to ensure that their bank account details in their respective demat accounts are updated to enable timely credit of dividends. As per the SEBI Master Circular dated February 06, 2026, shareholders holding shares in physical form whose folios are not updated with KYC details — including PAN, contact details, mobile number, bank account details, and signature — shall be eligible to receive dividends only in electronic mode, subject to updation of the said details. The company will arrange to email a soft copy of the TDS certificate to shareholders' registered email IDs in due course, post payment of the dividend. Shareholders will also be able to view the credit of TDS in Form 26AS, downloadable from their e-filing account at https://www.incometax.gov.in/iec/foportal . Shareholders are advised to consult their own tax advisors for provisions applicable to their specific circumstances.
Historical Stock Returns for Quess Corp
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.39% | -7.06% | +8.63% | -3.61% | -43.01% | -67.43% |
How might Quess Corp's decision to declare a special interim dividend signal its future capital allocation strategy, and could this indicate plans for additional shareholder returns in FY 2026-27?
What impact could the new Income Tax Act, 2025 framework — replacing earlier TDS provisions — have on non-resident and FPI investment appetite in Indian mid-cap staffing companies like Quess Corp?
Given the tight document submission deadline and the shift to a fully digital RTA portal process, how prepared are retail and physical-form shareholders to comply, and what systemic risks could arise from non-compliance?
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