Separate account for dividend
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 September 2013
Dear Sirs,
Why under companies law a separate account is required to be opened for declaration and payment of Dividend.
We have already opened an account for declaration of dividend but dividend is yet to be declared, can transfer some amount in that account and use that for other purposes.
Why under companies law a separate account is required to be opened for declaration and payment of Dividend.
We have already opened an account for declaration of dividend but dividend is yet to be declared, can transfer some amount in that account and use that for other purposes.
17 September 2013
No. You cannot use the money for any other purpose. However, it begs an explanation why you want to transfer money to the said account if the dividend is yet to be declared?
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- Putting a heading on received mail
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Consolidated financials
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
