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. |