What is the treatment of Interest received on unclaimed dividend? Are shareholders eligible for this interest? or Can company consider this interest as interest on bank deposit?
Amir
(Learner)
(4016 Points)
Replied 11 January 2010
Dear Pradeep,
Unclaimed Dividend as it's name suggets that the amount was not claimed by the shareholder's although the company was ready to pay..(there may be reasons like change in shareholder's address or bank account, etc)..Inshort it is something in which the company was not at fault..
Therefore shareholder's cannot claim interest..Interest on Unclaimed dividend is the income of the company..
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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