as per sec205 of co.act1956 which is now applicable, int paid by company will be 12% if dividend not paid after 30d of declared date.
as per co. act 2013, penalty under sec127 ,to be paid by company will be 18%,if dividend is not paid after 30d of declaration.
what rate of int to be paid by comp. if dividend is unpaid after 30d of declaration?
Section 205 of Companies Act 1956 is not applicable now. Section 127 of companies act 2013 is enforeced w.e.f. 12-09-2013.
Presently, if a compny failed to pay the declared divident within 30 days of declaration, it shall be liable u/s 127 of companies act 2013 @ 18% p.a.
thanks.
CAclubindia
