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Declaration of Dividend rules
Can anyone pls clarify whether the conditions mentioned in rule 3 of declaration of dividend rules are to be read together and be complied together or are they independent to each other..
Replies (2)
If dividend is declared out of reserves then you need to be complied together with rule 3 of declaration of dividend.
If Dividend is declared out of profit then no need to complied together.
If Dividend is declared out of profit then no need to complied together.
In case of insufficiency of current year profits, dividend may be declared out of accumulated profits, if each of those conditions in the rule 3 is satisfied. They are not independent to each other.
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