Undivided Profits - Definition - Law Dictionary Home Dictionary Definition undivided-profits

Definition :

Undivided profits, the amount designated as 'Undivided profits' is a part of the reserves and has to be taken into account when computing the capital and reserves within Rule 2(1) of Schedule II of the Act, First National City Bank v. CIT, AIR 1961 SC 812: (1961) 3 SCR 371. [Business Profits Tax Act, 1947, Sch. II, Rule 2(1)]