What do you mean by Accumulated Profits/Losses?
Regards,
Devendra
1 Replies
CA Raj K Agrawal
(Teaching & Practice)
(944 Points)
Replied 05 November 2010
| Originally posted by : Devendra | ||
 |
What do you mean by Accumulated Profits/Losses? Regards, Devendra |
 |
Accumulated profit refers to retained earning i.e the earning which has not been distributed to shareholders and kept as part of Reserve.
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Security Premium is not accumulated profit
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Accumulated Profit is to be taken upto the date of disctribution. However for sec. 2(22)(c) of Income Tax Act profit upto the date of liquidation is taken.
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