Rule 27 - Prescribed arrangements for declaration and payment of dividends within India - Income-tax Rules, 1962

Prescribed arrangements for declaration and payment of dividends within India . 27. The arrangements referred to in sections 194 and 236 to be made by a company for the declaration and payment of dividends (including dividends on preference shares) within India shall be as follows : ( 1 ) The share-register of the company for all shareholders shall be regularly maintained at its principal place of business within India, in respect of any assessment year from a date not later than the 1st day of April of such year. ( 2 ) The general meeting for passing the accounts of the previous year relevant to the assessment year and for declaring any dividends in respect thereof shall be held only at a place within India. ( 3 ) The dividends declared, if any, shall be payable only within India to all shareholders.