TMI BlogDeclaration of dividendX X X X Extracts X X X X X X X X Extracts X X X X ..... r providing for depreciation in accordance with the provisions of sub-section (2), or out of the profits of the company for any previous financial year or years arrived at after providing for depreciation in accordance with the provisions of that sub-section and remaining undistributed, or out of 2 [both:] 3 [Provided that in computing profits any amount representing unrealised gains, not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... years and 4 [transferred by the company to the free reserves], such declaration of dividend shall not be made except in accordance with such rules as may be prescribed in this behalf: Provided also that no dividend shall be declared or paid by a company from its reserves other than free reserves. 1 [Provided also that no company shall declare dividend unless carried over prev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany has incurred loss during the current financial year up to the end of the quarter immediately preceding the date of declaration of interim dividend, such interim dividend shall not be declared at a rate higher than the average dividends declared by the company during immediately preceding three financial years.] (4) The amount of the dividend, including interim dividend, sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (6) A company which fails to comply with the provisions of sections 73 and 74 shall not, so long as such failure continues, declare any dividend on its equity shares. --------------------- Notes:- 1. Inserted vide THE COMPANIES (AMENDMENT) Act, 2015 - dated 25th May 2015 2. Substituted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 09 February, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the quarter immediately preceding the date of declaration of interim dividend, such interim dividend shall not be declared at a rate higher than the average dividends declared by the company during the immediately preceding three financial years. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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