$($b$)$ Following information are available in respect of $Z$ Limited as on

$4$

${31}^{st}$ March, $2024$

Equity shares of $100$ each

General Reserve

$500$ lakhs

Loss for the year ending ${31}^{st}$ March, $2024$

$100$ lakhs

$5$ lakhs

Due to absence of profits during the year $2023-24,$ the management recommends to declare dividend of $10\%$ on equity share capital out of general reserve.

The rates of equity dividend for the last $5$ years immediately preceding the year $2023-24$ are as follows :

$\backslash$table$[[2022-23,2021-22,2020-21,2019-20,2018-19$