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Ours a OPC and earned profit in the FY , is it compulsory to decalre dividend or shall we transfer the profit to reserves and declare dividend later
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Dividend declaration
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Dividend declaration is not mandatory so you profit directly in reserve and surplus account
even transfer to reserve is not mandatory as per companies Act 2013 there was limit in companies Act 1956
but in the case , when dividend declared in GM then it's mandatory to transfer dividend to shareholders who has been listed to give dividend within 30 days of declaration
if not paid within 30 days then money shall be transfer to unpaid dividend account...Sec 124 & 125
but in the case , when dividend declared in GM then it's mandatory to transfer dividend to shareholders who has been listed to give dividend within 30 days of declaration
if not paid within 30 days then money shall be transfer to unpaid dividend account...Sec 124 & 125
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