Rajesh Kumar (Student) (211 Points)
26 November 2008
Hi
Can anyone please tell me what is the treatment of interest received from fund which is transfered to unclaimed dividend account. as per rule it should be kept in this account for 7 year. My question is during these 7 year some interest also would be given by bank.
What is the treatment of that interest?
regards
Rajesh
krishna kc
(director)
(46 Points)
Replied 16 July 2011
when interet is received then it will goes to unclaimed dividend Account....because it is the right of share holder to get the interest ..however if not claimed by share holder within 7 years then it will go to invester protaction fund.
CAclubindia
