Transfer to General Reserve In case dividend
This query is : Resolved
CA.CS.V.Viswanathan
(Querist)
09 April 2010
Respected Experts,
A Pvt Ltd Company Issues Bonus shares in the middle of the year (1:1) and at 31 March declares Divided at 7.5% (Dividend including for Bonus Shares) Should the company Transfer any amount to General Reserve?
Should Minimum % on the basis of Last 3 Year Dividend be Transfered?
The company has not declined by more than 20% in the Year..
A Pvt Ltd Company Issues Bonus shares in the middle of the year (1:1) and at 31 March declares Divided at 7.5% (Dividend including for Bonus Shares) Should the company Transfer any amount to General Reserve?
Should Minimum % on the basis of Last 3 Year Dividend be Transfered?
The company has not declined by more than 20% in the Year..
11 April 2010
Since the rate of dividend is less than 10%, no need to statutorily transfer any amount to the GR.
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