25 September 2013
the amount of dividend is required to be transfered in a special account with 5 days of declaration of dividend. Now how to claculate this 5 days? 1. Is it 5 calender days or 5 working days? 2. Whether the day of declaration and day of transfer to be counted within 5 days or excluding the time of 5 days? 3. If the last (5th) day is public/national holiday, then whether the very next day can be counted or the immediately previous day will be considred as last day?
CAclubindia
