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Transfer of unclaimed dividend amout to IEPF

Total Replies. 4

by zankhana Trivedi on 09 September 2009

Baroda (Gujarat)

by J. Manivannan on 09 September 2009

Section 205C -is prescribed the following amounts should be credited to IEPF with in 30 days from the date of it’s become as due:

a. amounts in the unpaid dividend accounts of companies;

b. the application moneys received by companies for allotment of any securities and due for refund;

c. matured deposits with companies;

d. matured debentures with companies;

e. the interest accrued on the amounts referred to in clauses (a) to (d);

f. grants and donations given

to the Fund by the Central Government, State Governments, companies or any other institutions for the purposes of the Fund; and

g. The interest or other income received out of the investments made from the fund.

Provided that no such amounts referred to in clauses (a) to (d) shall form part of the Fund unless such amounts have remained unclaimed and unpaid for a period of seven years from the date they became due for payment.

Pass a board resolution

Remittance Mode:

Pay Miscellaneous Fee → Pay Fee for IEPF → Enter particulars of Payment and Amount → pay either challan or online mode → get SRN.

Category: Bank

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