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of <h1>Clarification on 'Reserves' in Transfer of Profits to Reserves Rules: Only 'Free Reserves' u/s 205(2A) of Companies Law.</h1> The circular dated 19-7-1976 addresses inquiries regarding the term 'reserves' as mentioned in the Transfer of Profits to Reserves Rules under section 205(2A) of the Companies Law. It clarifies that the term 'reserves' specifically refers to 'free reserves.' This clarification is intended to guide companies in the appropriate allocation of profits to reserves when declaring dividends.
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