https://www.taxtmi.com/acts?id=31703 Section 123 is amended to exclude unrealised gains, notional gains, asset revaluations and fair-value measurement changes when computing profits for dividend distribution; references to "reserves" are replaced by "free reserves." The Board may declare interim dividends from surplus in the profit and loss account, profits of the financial year, or profits up to the quarter preceding declaration, but if the company has incurred a loss up to that quarter the interim dividend rate cannot exceed the average dividends declared in the immediately preceding three financial years. en-us Thu, 04 Jan 2018 18:38:24 +0530 Thu, 04 Jan 2018 18:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31703 Section 123 is amended to exclude unrealised gains, notional gains, asset revaluations and fair-value measurement changes when computing profits for dividend distribution; references to "reserves" are replaced by "free reserves." The Board may declare interim dividends from surplus in the profit and loss account, profits of the financial year, or profits up to the quarter preceding declaration, but if the company has incurred a loss up to that quarter the interim dividend rate cannot exceed the average dividends declared in the immediately preceding three financial years. Act-Rules F. Acts / Amendment Acts Thu, 04 Jan 2018 18:38:24 +0530 https://www.taxtmi.com/acts?id=31703