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Checklist

Dividend Declaration Checklist

Declare and pay dividend within the legal framework, including the dedicated bank account and TDS rules.

DIVIDEND DECLARATION CHECKLIST

Declaring and paying dividend under Sections 123-127 of the Companies Act, 2013.

Pre-Conditions

  • ☐ Confirm distributable profits after depreciation are available
  • ☐ Set off previous years’ losses and unabsorbed depreciation
  • ☐ Transfer a portion to reserves, if the board decides
  • ☐ Ensure no default in repayment of deposits

Approvals

  • ☐ Board resolution recommending final dividend / declaring interim dividend
  • ☐ Member approval of final dividend at the AGM (cannot exceed board’s recommendation)
  • ☐ Fix the record date for entitlement

Payment

  • ☐ Deposit the dividend amount in a separate bank account within 5 days of declaration
  • ☐ Deduct TDS on dividend under Section 194 where applicable
  • ☐ Pay/dispatch dividend within 30 days of declaration
  • ☐ Pay only in cash / electronic mode, not in kind

Unpaid Dividend

  • ☐ Transfer unpaid/unclaimed dividend to a special account within 7 days after 30 days
  • ☐ Transfer amounts unclaimed for 7 years to the IEPF
  • ☐ Upload the statement of unclaimed dividend on the company website

Note: Since abolition of dividend distribution tax, dividend is taxable in the shareholder’s hands and the company must deduct TDS. Interim dividend during a loss year cannot exceed the average rate of the last three years.

Before you use it — fill in / check

  • Company/entity
  • Period/date
  • Responsible person

How to use this template

  1. Read through and replace every [bracketed] or blank placeholder with your actual details.
  2. Delete any clause that doesn't apply and add anything specific to your situation.
  3. Click Print / Save as PDF to download, or Copy text to paste into your letterhead.
  4. Get it signed / stamped / notarised as required, and keep a copy for your records.

This is a general, editable template for convenience only — not legal advice. For anything material, have a professional review it. TaxClue isn't liable for how it's used.