Clause 11
Amendment of section 19L
of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
BillNot in forceProvision 11 of 30
Clause 11
Section 19L of the principal Act is amended by deleting subsection (4) and substituting the following subsection:“(4) Notwithstanding subsections (3) and (6), no dividend paid on any share of a preferential nature shall be exempt from tax under this section in the hands of the shareholder.”.