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A bonus issue can be made out of all the following EXCEPT:
Answer & Solution
Correct answer: C.
1. Section 63 expressly prohibits bonus issue from a revaluation reserve or unrealised gains.
2. Only realised free reserves, Securities Premium and CRR are eligible.
3. Hence (D).
_Source: ICAI BoS CA Inter Paper 2 — Declaration and Payment of Dividend_