Can a Company declare interim dividend after the completion of Finacial year say (2007- 2008) , it means that the company accounts are finalised in August 2008 and they want to declare dividend in may 2008.
Pls clarify.
Regards
Prashant Jain
Prashant Jain (Professional) (41 Points)
01 October 2008
Lineesh James
(Company Secretary)
(30 Points)
Replied 01 October 2008
I dont think there is any problem provided the Company complies with Section 205 particularly with respect to depreciation and transfer to reserves
Prashant Jain
(Professional)
(41 Points)
Replied 01 October 2008
Dear Lineesh,
Any Companies doing so ?
Regards
Prashant Jain
Sangam
(CA)
(1329 Points)
Replied 01 October 2008
interim divided is dividend declared between 2 AGMs. bod can declare it.
Jitesh Chowdhury
(CA)
(58 Points)
Replied 01 October 2008
Guys what if a co. declares an interim dividend on account of profits earned during the say 1ST 6 monhs of a F.Y. but consequently incurs a loss on an annual basis?
CA Jeen paul
(finance manager)
(268 Points)
Replied 01 October 2008
yes, interim dividend can be declared by the board of directors of the compay befor the annual general meeting
CS Shailesh Indapurkar
(Company Secretary)
(53 Points)
Replied 01 October 2008
The above mentioned interim dividend will be for the financial year 2008-2009 and not for the year 2007-2008. And directors need to ensure that company makes profit in the year 2008-2009. Otherwise they will be personally liable to the company if provisions of section 205 are not complied with for one reason or the other.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)