The term "accumulated profits" in the context of this ordinance refers to the total net income of a company that is retained by the company after distributing dividends to its shareholders. This includes all profits, income, and gains of the company or a trust up to the date of the distribution or payment of a dividend, or up to the date of its liquidation.

1. In relation to the distribution or payment of a dividend, accumulated profits include any reserves that are made up wholly or partly of any allowance, deduction, or exemption admissible under this Ordinance. This means that any money set aside for future use that comes from allowances, deductions, or exemptions is considered part of the accumulated profits.

2. For the purposes of sub-clauses (a), (b) and (e) of clause (19), all profits of the company including income and gains of a trust up to the date of such distribution or such payment are included in the accumulated profits. This means that all profits, whether they come from the company's operations or from a trust, are included in the accumulated profits until the date the dividend is distributed or paid.

3. For the purposes of sub-clause (c) of clause (19), accumulated profits include all profits of the company including income and gains of a trust up to the date of its liquidation. This means that if a company or trust is liquidated, all profits up until the date of liquidation are considered part of the accumulated profits.

For example, let's say a company has made a profit of $1 million this year. It has also received an allowance of $200,000 under this ordinance. The company decides to distribute dividends to its shareholders and sets aside $300,000 for future use. The accumulated profits in this case would be $1 million (profit) + $200,000 (allowance) - $300,000 (dividend) = $900,000.

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The term "accumulated profits" in the context of this ordinance refers to the total net income of a company that is retained by the company after distributing dividends to its shareholders. This includes all profits, income, and gains of the company or a trust up to the date of the distribution or payment of a dividend, or up to the date of its liquidation.

1. In relation to the distribution or payment of a dividend, accumulated profits include any reserves that are made up wholly or partly of any allowance, deduction, or exemption admissible under this Ordinance. This means that any money set aside for future use that comes from allowances, deductions, or exemptions is considered part of the accumulated profits.

2. For the purposes of sub-clauses (a), (b) and (e) of clause (19), all profits of the company including income and gains of a trust up to the date of such distribution or such payment are included in the accumulated profits. This means that all profits, whether they come from the company's operations or from a trust, are included in the accumulated profits until the date the dividend is distributed or paid.

3. For the purposes of sub-clause (c) of clause (19), accumulated profits include all profits of the company including income and gains of a trust up to the date of its liquidation. This means that if a company or trust is liquidated, all profits up until the date of liquidation are considered part of the accumulated profits.

For example, let's say a company has made a profit of $1 million this year. It has also received an allowance of $200,000 under this ordinance. The company decides to distribute dividends to its shareholders and sets aside $300,000 for future use. The accumulated profits in this case would be $1 million (profit) + $200,000 (allowance) - $300,000 (dividend) = $900,000.

Knowee AI · Accepted Answer

The term "accumulated profits" in the context of this ordinance refers to the total net income of a company that is retained by the company after distributing dividends to its shareholders. This includes all profits, income, and gains of the company or a trust up to the date of the distribution or payment of a dividend, or up to the date of its liquidation.

1. In relation to the distribution or payment of a dividend, accumulated profits include any reserves that are made up wholly or partly of any allowance, deduction, or exemption admissible under this Ordinance. This means that any money set aside for future use that comes from allowances, deductions, or exemptions is considered part of the accumulated profits.

2. For the purposes of sub-clauses (a), (b) and (e) of clause (19), all profits of the company including income and gains of a trust up to the date of such distribution or such payment are included in the accumulated profits. This means that all profits, whether they come from the company's operations or from a trust, are included in the accumulated profits until the date the dividend is distributed or paid.

3. For the purposes of sub-clause (c) of clause (19), accumulated profits include all profits of the company including income and gains of a trust up to the date of its liquidation. This means that if a company or trust is liquidated, all profits up until the date of liquidation are considered part of the accumulated profits.

For example, let's say a company has made a profit of $1 million this year. It has also received an allowance of $200,000 under this ordinance. The company decides to distribute dividends to its shareholders and sets aside $300,000 for future use. The accumulated profits in this case would be $1 million (profit) + $200,000 (allowance) - $300,000 (dividend) = $900,000.

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