Hi frnz,
there is a pvt ltd company which wants to pay dividend to its shareholders. please help me out with the steps required to be taken also the accounting treatment which needs to be done.
thanks
Meenakshi
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declaration of dividend
Replies (2)
In case of Interim Dividend, you need to pass the Board resolution declaring intrim dividend, otherwise in case of final dividend you first pass Board resolution and than get the approval of Members in AGM.
Note, dividend can be paid only from profits of the Company calculated as per Sec 349 & 350.
And if dividend paid exceeds 10 % than certain amt to be transfered to Reseve before dividend is paid.
Within 5 days of declaration, Company have to deposit the amount of Dividend in the Seperate Bank Account.
| Originally posted by : Jagruti (CS) | ||
 |
In case of Interim Dividend, you need to pass the Board resolution declaring intrim dividend, otherwise in case of final dividend you first pass Board resolution and than get the approval of Members in AGM. Note, dividend can be paid only from profits of the Company calculated as per Sec 349 & 350. And if dividend paid exceeds 10 % than certain amt to be transfered to Reseve before dividend is paid. Within 5 days of declaration, Company have to deposit the amount of Dividend in the Seperate Bank Account. |
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