Disputed Unpaid Dividend
This query is : Resolved
JIGAR GOVINDBHAI DOSHI
(Querist)
02 January 2009
Hello sir,
I face one problem due to unclarity in the companies act, 1956. According to Section 205A all unpaid/unclaimed dividend beyond 7 years has to be transferred to Investor Protection Fund. However, what if upaid dividend arises due to the disputes regarding the beneficial of dividend and for that reason it is upaid for more than 7 years ? Will it also requires to be transfeered to Investor Protection Fund ? Please guide us.
I face one problem due to unclarity in the companies act, 1956. According to Section 205A all unpaid/unclaimed dividend beyond 7 years has to be transferred to Investor Protection Fund. However, what if upaid dividend arises due to the disputes regarding the beneficial of dividend and for that reason it is upaid for more than 7 years ? Will it also requires to be transfeered to Investor Protection Fund ? Please guide us.
CS Arpita Rajpurohit
(Expert)
02 January 2009
Hello Sir, im not sure.......but the act says unpaid/ unclaimed...and in ur case the dividend has been claimed and is disputed
so if we go by mere interpretation of words, the amt is not required to be transferred to Investor Protection Fund.
so if we go by mere interpretation of words, the amt is not required to be transferred to Investor Protection Fund.
02 January 2009
My view is also the same as given above by Ms Arpita.
JIGAR GOVINDBHAI DOSHI
(Querist)
07 January 2009
I agreed with your views. Thanks for the same.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- Ito add credit side of bank
- GSTR9 Annual Return
- Form 144 TDS Return Validation error
- Capital Gains Tax on Inherited Mutual Fund
- GST ITC as per notification 12/2023- central tax
- Rent agreement of House of deceased person
- Gift to nri relatives resides in usa
- LLP audit and disclosure
- Import of Capital Machine
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
