The Dividend for any Financial year can be Declared or paid out of ........

Companies Act-Phase (I & II) Paymentofdividends

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The Dividend for any Financial year can be Declared or paid out of ___________

Profits for that Financial Year

Profits for any Previous Financial Year

Both (a) and (b)

Both (a) and (b) and out of free reserves

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Explanation:

DECLARATION OF DIVIDEND IN ABSENCE OF PROFITS:

Any Company may declare dividend in absence of profits during the financial year out of accumulated profits earned by company in previous years and its free reserves subject to fulfilment of following conditions accordance with Rule 3 of Companies (Declaration and Payment of Dividend) Rules, 2014: