PREFERENCE SHARES (REGULATION OF DIVIDENDS) ACT, 1960

Schedule - MODIFICATIONS OF THE ACT IN ITS APPLICATION TO THE UNION TERRITORY OF PONDICHERRY

THE SCHEDULE

[See section 1(3)]

MODIFICATIONS OF THE ACT IN ITS APPLICATION TO THE UNION TERRITORY OF PONDICHERRY

1. - Sections 3 and 4 shall be omitted.
2. - In section 4A, for the words, brackets, letters and figures -twenty-seven and a half per cent of the aggregate of (i) the stipulated dividend, and (ii) an amount equal to eleven per cent of the stipulated dividend as specified in sub-section (3) of section 3-, the following shall be substituted, namely :-
- -Twenty-seven and a half per cent of the stipulated dividend :
- Provided that in a case where the preference shares in respect of which the dividend is declared or paid form part of the preference share capital of a company which, in respect of the greater part of its total income, is entitled to a deduction from the tax chargeable from it under the Inc .... To read the full section download the app from Google Play store