Transfer of Profit to reserve rules 1975
This query is : Resolved
21 July 2010
As per the transfer of profit to reserve rules 1975, when we declare dividend we need to transfer a specified percentage to reserves. What are all the purposes for which these reserves can be utilised? i .e utilisation of the above said reserves
22 July 2010
It is transfered to General reserves i.e it is free reserves and can be utilised for any purpose
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