Dividend

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 August 2011 The private limited company want to start practice of giving dividend to the shareholder. What process it has to follow for the same. As of now can dividend can be declared in 2010-11 books as the audit is yet to be completed.

Pls advice.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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15 August 2011 Dividend is to be distributed by taking the approval of AGM. For 2010-11 you can hold the AGM on 30.9.2011 and can declare the same. Once declared you have to pay the dividend tax. The same should be within the provisions of Section 205 and 350 of the companies act.

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