transfer of profit to reserve fund
This query is : Resolved
vishesh chaturvedi
(Querist)
18 July 2008
can a company transfer in excess of 10% amount of profit to reserve fund from current year profit if it declared in excess of 20% dividend
18 July 2008
Yes, if company proposed/declared dividend in excess of 20% of the paid-up capital,the amount to be transferred to reserves shall not be less than 10 per cent of the current profits.
But you have to take care of conditions governing voluntary transfer of a higher percentage.
But you have to take care of conditions governing voluntary transfer of a higher percentage.
vishesh chaturvedi
(Querist)
19 July 2008
please explain the condition under voluntary transfer for higher percentage
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