General reserve
This query is : Resolved
07 September 2013
Is it compulsory for the private companies to transfer the profit to general reserve each year.
Please reply..
Please reply..
07 September 2013
COMPULSORY TRANSFER TO RESERVES
No amount need be transferred to Reserves if the dividend declared does not exceed 10%.
No dividend can be declared and paid in excess of 10% unless minimum amount prescribed as under is transferred to Reserves.
Rate of dividend % of current profits
exceeding up to
10.0% 12.5% 2.5%
12.5% 15.0% 5.0%
15.0% 20.0% 7.5%
20.0% 10.0%
No amount need be transferred to Reserves if the dividend declared does not exceed 10%.
No dividend can be declared and paid in excess of 10% unless minimum amount prescribed as under is transferred to Reserves.
Rate of dividend % of current profits
exceeding up to
10.0% 12.5% 2.5%
12.5% 15.0% 5.0%
15.0% 20.0% 7.5%
20.0% 10.0%
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