Declaration and Payment of Dividend. Dividend can be Declared out of Profits after providing Depreciation under Schedule II Profit of previous financial.

Slides:

Advertisements

Similar presentations

The Revised Schedule VI To The Companies Act, 1956 CA ANIL MOOKIM D H A N B A D.

Advertisements

By Prince Gupta (CA Final Student). WHAT IS LISTING AGREEMENT? AGREEMENT BETWEEN STOCK EXCHANGE AND THE COMPANY DESIROUS OF GETTING THEIR SECURITIES LISTED.

HW 2 1. You have accumulated $4,400 in credit card debt. Your credit card rate is 8.5% APR and you are charged interest every month on the unpaid balance.

DECLARATION AND PAYMENT OF DIVIDEND

Room No.6, 4 th Floor, Commerce House 2A, Ganesh Chandra Avenue, Kolkata Connect : (033) ; (033) ;

Acceptance Of Deposits.  “Deposit” includes any receipt of money: a) by way of deposit or a) loan or a) in any other form.

Depreciation as per Schedule II of Companies Act 2013

FINANCIAL ACCOUNTING Unit 3 – COMPANIES II: Taxation, Provisions, Reserves and Liabilities Unit 31Copyright © 2010 MDIS. All rights reserved.

1 Redemption of Debentures. 2 Redemption of debenture Redeemable debenture will be redeemed on or before a specified date which is stated clearly in the.

Appointment & Qualifications of Director.  All Private and Public Limited Companies and One Person Companies (OPC)

MINIMUM ALTERNATE TAX 9 th Day Session III& IV Slide 9.4.

PRIVATE PLACEMENT CS Vasudeva Rao Devaki D V Rao & Associates

Buy Back of Shares or Other Specified Securities.

BY PRIVATE & LISTED & UNLISTED PUBLIC COMPANIES Chapter III Part II – Private Placement Section 42 (Sub Section )

Final Accounts of Companies

Recap Share (Definition) Classes of Shares – Ordinary Shares – Preference Shares – Redeemable Preference Shares Share Capital – Nominal or Authorized Capital.

Audit Findings on Kindergarten Inspections Internal Audit Section Finance Division November 2014.

CLAUSE 41 OF THE LISTING AGREEMENT Prepared by: Tarang Doshi M. V. Damania & Co. Chartered Accountants.

ACCOUNTING MECHANISM. Accounting Documents and Records.

BUSINESS BASICS. Types of Business BUSINESS MAY BE UNDERTAKEN BY DIFFERENT TYPES OF ORGANISATION WHICH IS BRIEFLY DESCRIBED BELOW SOLE PROPRIETORSHIP.

ISLAMIC EXPORT RE-FINANCE SCHEME (IERS) By Mujeeb Beig.

ACCOUNTING STANDARD -12 ACCOUNTING FOR GOVERNMENT GRANTS MOTI THIRUMALA RAJU.

Presented By : Sana Riaz (0185) Saira Khalid (0201)

2 Distinctions of companies Separate legal entity Separation of ownership and management Ownership through shares Limited liability is usual. It is the.

© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 12 SLIDE 1 Financial Planning Financial Records and Financial Statements.

5 th Accounting Analysis and Interpretation of Financial Statements.

LESSON 12-1 Preparing Payroll Time Cards

Preparation of Financial Statements An insurer shall prepare the Revenue Account [Policyholders’ Account], Profit and Loss Account [Shareholders’ Account]

1 Module 3. Recording Financial Transation Dr. Varadraj Bapat.

REVISED SCHEDULE VI 10/25/ Revised Schedule VI applicable to all companies for the financial year commencing from 01 st April However do.

Banking Legislation In India BANKING REGULATION ACT 1949 The Banking Regulation Act 1949 as amended up to date contains the following five parts :- Part.

Chapter 14 Payroll Accounting, Taxes, and Reports.

Notified on April 10,2015. Practically  (1 st part) Main Audit Report (2 nd part) Annexure which is covered by S.A. 700 which is covered by CARO.

CONCEPT OF ADR, GDR, P.NOTES & IDR. Presented By Nitin Agarwal.

Profit tax Emil Garayev 2 April I. General aspects  Tax payers and taxable base:  Tax rate and the reporting period  Major exemptions: - income.

UNDER SECTION 68,69 & 70 COMPANIES ACT, 2013 BUY BACK (UNLISTED COMPANY) Sanoj Kumar ( CS Trainee) Mob No , E-maid

FINAL ACCOUNTS  All companies or corporations ( businesses owned by shareholders) must provide a set of final accounts consisting on three statements:

 Subsequent issue of shares by an existing company to existing shareholders are known as rights issue.  Section 81 of the Companies Act, 1956 provides:

Chapter 15 Debt and Equity Capital McGraw-Hill/IrwinCopyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.

COMPANIES ACT, 2013 Appointment and Remuneration of Managerial Personnel CA. Arun Saxena Saxena & Saxena Chartered Accountants 811, Ansal Bhawan 16, Kasturba.

Dividend Policy  Dividend is proposed by the Board of Directors and declared by the Shareholders at the Annual General Meeting.  AGM cannot increase.

THE FINANCIAL REPORTING WORKSHOP 25 TH AND 29 TH AUGUST 2014 HILLTON HOTEL, NAIROBI IAS 26 ACCOUNTING AND REPORTING BY RETIRMENT BENEFIT PLANS 1.

INDEX Check points Process before acceptance Process at the time of acceptance Process after acceptance.

C OMPANIES (Amendment) ACT, 2015 (effective from 29 th May 2015) Advocate Arun Saxena Saxena & Saxena Law Chambers Advocates & Attorneys , New Delhi.

BATLIBOI & PUROHIT Chartered Accountants. Companies Act 2013 Topics: KMP & Directors ( Incl. Independent Directors), Appointment & Remuneration of Managerial.

Right shares and bonus shares

By C. S. Kelkar Partner C. S. Kelkar & Associates, Company Secretaries.

Submitted to:Submitted by: Ms. Nisha AggarwalSunayana Khanduja (4279) Dhruvika Sharma(4321)

IAS 16 Property, Plant and Equipment Mr. BarryA-level Accounting Year 12.

COMPANIES ACT,2013 Advocate Arun Saxena Saxena & Saxena Law Chambers Advocates & Attorneys , New Delhi House, 27, Barakhamba Road, New Delhi – 110.

Share Capital. Main divisions of share capital Nominal or Registered or Authorised Issued capital Subscribed capital Called up capital Paid up capital.

Chapter – 3 setoff and carry forward of losses

 Applicable of Financial statement to be Prepared for Financial year commencing on or after 01 April 2011 AApplicable of Financial statement to be.

INDIAN TAKEOVERS Meaning Of Acqusition: When an “acquirer” takes over the control of the “target company”, it is termed as takeover. When an acquirer.

Chapter 17 Accounting for Co-operative Societies.

What is a Company? A Company is a voluntary association of persons formed for the purpose of doing business, having a distinct name and limited liability.

Lecture 40 Income from other sources and Income Tax Returns.

Accounting and Finance Unit 4 Topic 4 Part B – Preparation of Company Financial Reports – Statement of Financial Position and Statement of Changes in Equity.

The companies suddenly seem to be in a rush to declare interim dividend. The driving reason behind this rush lies in the amendments inserted in the Finance.

Financial Accounting II Lecture 30

Corporations: Paid-in Capital and the Balance Sheet

Transfer of shares to Investor Education and Protection Fund

Preparing Payroll Records

BNP & Associates Company Secretaries

Presented by – G P Madaan

BOOKS OF ACCOUNT & FINANCIAL STATEMENTS

DIVIDEND PRESENTED BY:- ABTF.

Accounting for Assets Cash Flows.

Presentation transcript:

Declaration and Payment of Dividend

Dividend can be Declared out of Profits after providing Depreciation under Schedule II Profit of previous financial year after providing depreciation and remaining undistributed Money provided by Central or State Government

 A company may voluntarily transfer a percentage of its profits to reserves as it considers appropriate. Mandatory transfer to reserves is not required  Dividend can be paid only out of free reserves. Securities premium is not free reserve.

 Company can declare dividend out of the accumulated profits earned by it in previous years and transferred to reserves, but the rate of dividend declared shall not exceed the average of the rates at which dividend was declared by it in the immediately 3 preceding years.

 Can be declared out of the surplus in the Profit & Loss Account as well as profits of the FY in which dividend is sought to be declared.  If loss is incurred in preceding quarter of the current FY then interim dividend shall not be declared at a rate higher than the average dividends declared by the company during the immediately preceding 3 Fys.  Failure to comply with provisions relating to acceptance and repayment of deposits will bar the company to declare any dividend during the period of non- compliance.

 A Separate Account is to be opened in a scheduled bank where the amount of dividend including interim dividend shall be deposited within 5 days from the date of declaration of such dividend.

 If not paid or claimed within 30 days from the date of Declaration, then the company shall within 7 days from the expiry of said 30 days transfer such amount to Unpaid Dividend Account.  A Special Account named Unpaid Dividend Account has to be opened with a Scheduled Bank.  The company shall within 90 days, after transferring the amount to unpaid dividend account prepare a statement containing names their last address known and unpaid dividend to be paid to each person and should place it on website of company.

 Any amount transferred to Unpaid Dividend Account which remains unpaid/unclaimed for a period of 7 years from the date of transfer shall be transferred along with Interest to IEPF.  Company should also sent a statement prescribing the details of such transfer.  Any claimant can claim his shares which are transferred to IEPF account as per the procedure and submission of documents.