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preference dividend

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(Querist)
14 October 2009 do we need to open a new account every year for payment of preference dividend
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Ankur Garg

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Ankur Garg (Expert)
14 October 2009 YES.

Section 205(1A) also applicable to preference dividend.

Further it is advisable to open separate dividend every year for easy working and tracking. In future it will give you administrative convenience.

Regards

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