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..
CA Pallav Singhania
(Expert)
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%
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
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Additional trade name
- Equity Share Sale and Purchase
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
