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transfer of profit to reserve fund

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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
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CA. Ramesh P Choudhary

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CA. Ramesh P Choudhary (Expert)
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.
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vishesh chaturvedi

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vishesh chaturvedi (Querist)
19 July 2008 please explain the condition under voluntary transfer for higher percentage
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