TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Companies Act 1956: Dividends Must Be Paid Within 30 Days; Section 78 Bars Use of Securities Premium for Dividends</h1> The Companies Act, 1956, outlines the regulations for declaring and distributing dividends by companies. Dividends, both interim and final, become a debt once declared and must be paid within 30 days. They can only be paid from profits after accounting for depreciation. Section 78 prohibits using the Securities Premium Account for dividends. Unpaid dividends must be transferred to a special account within seven days after 30 days of declaration. Dividends must be paid in cash and only to registered shareholders. Directors face penalties for failing to distribute dividends timely. The Investor Education and Protection Fund collects unpaid dividends and other specified funds.
TaxTMI 
TaxTMI 
