As per the rules framed under section 205A(3) relating to use of past reserves for payment of dividend should retain in the reserves an amount not less than
A. 25% of the paid-up share capital of the company
B. 20% of the paid-up share capital of the company
C. 15% of the paid-up share capital of the company
D. 10% of the paid-up share capital of the company
Answer:C
As per the rules framed under section 205A(3) relating to use of past reserves for payment of dividend should retain in the reserves an amount not less than
A. 25% of the paid-up share capital of the company B. 20% of the paid-up share capital of the company C. 15% of the paid-up share capital of the company D. 10% of the paid-up share capital of the company