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of <h1>Clarification on Section 205A: Unpaid Dividends for Non-Residents Require RBI Approval Before Central Government Transfer.</h1> The circular addresses the application of section 205A regarding unpaid dividends, particularly for non-resident shareholders requiring Reserve Bank of India approval for remittance. It clarifies that section 205A does not exempt dividends needing such approval from its provisions. Sub-sections (5) and (6) of section 205A allow unpaid dividends to be paid to shareholders within three years before transferring to the Central Government's revenue account. Companies can, after obtaining Reserve Bank approval, access unpaid dividend accounts to pay non-resident shareholders.
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