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of <h1>Understanding Dividend Declaration Rules Under Section 123 of Companies Act, 2013: Key Conditions and Compliance Requirements</h1> Section 123 of the Companies Act, 2013 outlines the conditions under which a company can declare and pay dividends. Dividends can be declared from profits after accounting for depreciation or from government funds under a guarantee. Companies must transfer a portion of profits to reserves before declaring dividends, and dividends cannot be paid from non-free reserves. Interim dividends can be declared from current or accumulated profits but must not exceed the average rate of the last three years if losses are incurred. Dividends must be deposited in a bank within five days and paid only to registered shareholders, primarily in cash. Non-compliance with sections 73 and 74 prohibits dividend declaration.
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