[[b]size=14]hello
We are a Private Company & we have only 3 shareholders. The board declared dividend few days ago. My question is
Section 205 (1A) prescribes transfer to bank account within 5 days
Can we pay the dividend direictly out of our accounts within 5 days WITHOUT transferring to any special account - This would help since otherwise we have to move the amount to designated account and then pay - practically we can pay out the dividend by cheque or demanddraft to the shareholder within 5 days. Will this be right?
Can anybody pl clarify
Asc prasad[/size][/b]
hi
as per sec. 205(1A) company (pub.+pvt.) has to deposit dividend (interim also) with in 5 days from date of declaration. and then pay from this a/c.
so your practice is wrong. make it coorrect.
any doubt then contact me.
ashish gupt
ca.ashishgupt @ gmail.com
:D ::) :o
CAclubindia
