https://www.taxtmi.com/acts?id=12520 No company may declare or pay a dividend except out of profits after providing for depreciation, or out of undistributed earlier profits or government funds under guarantee; unpaid prior depreciation must be provided or losses set off as prescribed. Interim dividends must be deposited in a separate bank account within five days and used for payment. Statutory provisions require transfer of a prescribed percentage of current year profits to reserves before declaring dividend, depreciation may be provided by methods approved by the Central Government, and dividends are payable only in cash though capitalization for bonus shares is permitted. en-us Wed, 11 May 2011 11:01:03 +0530 Wed, 11 May 2011 11:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12520 No company may declare or pay a dividend except out of profits after providing for depreciation, or out of undistributed earlier profits or government funds under guarantee; unpaid prior depreciation must be provided or losses set off as prescribed. Interim dividends must be deposited in a separate bank account within five days and used for payment. Statutory provisions require transfer of a prescribed percentage of current year profits to reserves before declaring dividend, depreciation may be provided by methods approved by the Central Government, and dividends are payable only in cash though capitalization for bonus shares is permitted. Act-Rules Companies Law Wed, 11 May 2011 11:01:03 +0530 https://www.taxtmi.com/acts?id=12520