in case of interim dividend, when there are losses in previous quarters then dividend upto average of last 3 years' rate is to be used to declare dividend. Does that mean that dividend (in amount) cannot exceed profits in P&L Appropriation A/c; even though amount derived after avg dividend rate is greater than amount carried forward in P&L appro. a/c? because we cannot use reserves to pay interim dividend.
ANSWERED Ravi answered May 8, 2018     Category:
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