TaxTMI 
TaxTMI 
Declaration of dividend
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....ith the provisions of sub-section (2), or out of the profits of the company for any previous financial year or years arrived at after providing for depreciation in accordance with the provisions of that sub-section and remaining undistributed, or out of 2[both:] 3[Provided that in computing profits any amount representing unrealised gains, notional gains or revaluation of assets and any change i....
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....vidend shall not be made except in accordance with such rules as may be prescribed in this behalf: Provided also that no dividend shall be declared or paid by a company from its reserves other than free reserves: 1[Provided also that no company shall declare dividend unless carried over previous losses and depreciation not provided in previous year or years are set off against profit of the co....
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....ration of interim dividend, such interim dividend shall not be declared at a rate higher than the average dividends declared by the company during immediately preceding three financial years.] (4) The amount of the dividend, including interim dividend, shall be deposited in a scheduled bank in a separate account within five days from the date of declaration of such dividend. (5) No dividend shal....
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....--------------------- Notes:- 1. Inserted vide THE COMPANIES (AMENDMENT) Act, 2015 - dated 25th May 2015 2. Substituted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 09 February, 2018, before it was read as, "both; or" 3. Inserted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 09 February, 2018 4. Substituted vide The Companies (Amendment) Act, 2....