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Amendment of section 194.

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..... the first proviso,- (i) in clause (a), for the words an account payee cheque , the words any mode other than cash shall be substituted; (ii) in clause (b), for the words two thousand five hundred rupees , the words five thousand rupees shall be substituted; (D) the third proviso shall be omitted. Clause 74 of the Bill seeks to amend section 194 of the Income-tax Act relating to dividends. The said .....

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..... deduction at the rate of ten per cent. instead of the rates in force. It is further proposed to amend the first proviso to the said section so as to provide for payment of dividend by the company by any mode and to increase the threshold limit thereof from two thousand five hundred rupees to five thousand rupees. It is also proposed to consequentially omit the third proviso to the said section. T .....

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