is transfer of statutory reserve 25% of profit mandatory?
if yes than ...why
if que.specify 20 % than how much we will taken ...25%or 20%
plzzzz provides relevant answer!!!!!
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financial statement of banking co.
Replies (2)
If question specify the rate that we have to work according to the question
If you're referring to reserve creation as mentioned u/s 45-1C of The Reserve Bank of India Act, 1934 then 20% of Net profit before apporpration of Dividend has to be transferred.
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