Can any body tell me that if any company made losses in his earliar year e.g 80 lacs but during current financial year it made a profit say Rs. 60 lacs can company declare dividend out of this whole 60 lacs without set off any earliar years losses
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Information required for declaration of dividend
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As per Sec 205 the Co should provide for depreciation before it pays the dividend. So if the Co incurred losses in previous year, it should set off the amount of depreciation or amount of loss whichever is lower.
see more in attached file also....
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