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of <h1>Dividend Rules Amended: Companies Can Declare Dividends Without Offsetting Previous Losses or Depreciation. Sub-rule 3(5) Omitted.</h1> The Companies (Declaration and Payment of Dividend) Second Amendment Rules, 2015, issued by the Ministry of Corporate Affairs, amends the Companies (Declaration and Payment of Dividend) Rules, 2014. The amendment removes the condition that a company cannot declare dividends unless it offsets any carried-over previous losses and unprovided depreciation against the current year's profits. This change, effective upon publication in the Official Gazette, omits sub-rule (5) of rule 3. The principal rules were initially published in March 2014 and were previously amended in June 2014 and February 2015.
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