CA Punit Chhattani (Chartered Accountant) (24 Points)
21 July 2010HI Friends
Can anyone please tell that what are the provision to Declare Dividend out of Accumulated Profits. My Profits are carried over in P&L A/c only. They are not lying in Any Reserve.
Please Reply ASAP.
Thanx.
With Regards
Punit Chhattani
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 22 July 2010
Dear Punit,
The provisions are same regarding declaring dividend out of profit of previous year or any of the previous year.
Provided, Reserves has not been included for that purpose.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
CAclubindia
