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of <h1>New Rule 23 Allows Rounding Off Dividends and Interest to Nearest Rupee Under Companies Act, 1956</h1> The Companies (Central Government's) General Rules and Forms (Second Amendment) Rules, 1994, introduces Rule 23, effective upon publication in the Official Gazette. This rule allows for the rounding off of dividend payments to shareholders and interest payments to debenture-holders to the nearest rupee under the Companies Act, 1956. Specifically, amounts with a fractional part of fifty paise or more are rounded up to the next rupee, while amounts less than fifty paise are disregarded. This amendment aims to simplify the payment process for dividends and interest under the Act.
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