https://www.taxtmi.com/acts?id=14459 A company shall not declare or pay a dividend out of the profits for a financial year, after providing for depreciation, unless a specified percentage of those current profits is transferred to reserves. The rule prescribes increasing minimum reserve-transfer percentages tied to successive higher bands of the proposed dividend measured against the paid-up capital, with the largest mandated transfer when the proposed dividend exceeds the top band. en-us Thu, 02 Jun 2011 12:40:07 +0530 Thu, 02 Jun 2011 12:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=14459 A company shall not declare or pay a dividend out of the profits for a financial year, after providing for depreciation, unless a specified percentage of those current profits is transferred to reserves. The rule prescribes increasing minimum reserve-transfer percentages tied to successive higher bands of the proposed dividend measured against the paid-up capital, with the largest mandated transfer when the proposed dividend exceeds the top band. Act-Rules Companies Law Thu, 02 Jun 2011 12:40:07 +0530 https://www.taxtmi.com/acts?id=14459