https://www.taxtmi.com/news?id=15567 The Committee recommends harmonising Rule 3 with the statutory proviso so the rule applies only where dividends are proposed out of accumulated profits earned in previous years and transferred to the reserves, and confirms companies may use the carried forward surplus in the Profit and Loss account for dividend distribution when current year profits are inadequate. en-us Tue, 02 Feb 2016 19:04:47 +0530 Tue, 02 Feb 2016 19:04:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15567 The Committee recommends harmonising Rule 3 with the statutory proviso so the rule applies only where dividends are proposed out of accumulated profits earned in previous years and transferred to the reserves, and confirms companies may use the carried forward surplus in the Profit and Loss account for dividend distribution when current year profits are inadequate. News - Tue, 02 Feb 2016 19:04:47 +0530 https://www.taxtmi.com/news?id=15567