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santosh (Student)     15 March 2018

Transfer from general reserves to profit & loss account?????

Hello All,

I need a help.

We have a general reserve balance.

Now we want to transfer the same to Profit & loss account(retained earnings) instead of maintaning the same as Gen Reserve.

Can we do that?? What could be the better approach either to mantain general reserve or trasfering itto P&L account..

If there is no differece, can you share the procedure with me???

Thanks in advance



 2 Replies

Divakar

Divakar (Student CA Final )     15 March 2018

Both r ur retained earnings... No difference at all
mahendra pandhi

mahendra pandhi (Partner)     20 August 2021

There is a difference in case company wants to declare dividend from general reserve, it has to comply with many conditions. However if company declares dividend from Profit & Loss a/c there are no restrictions.

Company can transfer General reserve to P&L by passing special resolution 


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