Account for declaration of final dividend
This query is : Resolved
28 September 2012
A private company has previously opened a bank account for payment of dividend for year end 2011.
Now, the company has declared dividend for year end 2012 , Can the company make that previous dividend account active or it is mandatory to have separate bank account for each such payment of dividend ?
Now, the company has declared dividend for year end 2012 , Can the company make that previous dividend account active or it is mandatory to have separate bank account for each such payment of dividend ?
28 September 2012
It must have a separate bank account. However, if all the dividend of last year has been paid.
This account may be used for dividend distribution as a separate account for dividend distribution.
This account may be used for dividend distribution as a separate account for dividend distribution.
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