As per Companies Act, after the declaration of dividends, bank accounts needs to be opened in 5 days. Do those 5 days include holidays also ?
Menu
Opening Bank Account for Dividends
Replies (2)
NO ITS NOT INCLDING HOLIDAYS
Hi,
Kindly appreciate it is not mandatory to open bank account in case of dividend with in 5 days of AGM. You may open the bank account for dividend well in advance.
My practice is to pass board resolution for opening the bank account in case of dividend in the board meeting which adopts the Annual Account. You may also adopt the same practice.
Regarding your query == Yes those 5 days includes holiday.
Regards
Recent Threads
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
Related Threads
CAclubindia
