# The Finance Act, 1984, Section 23: Amendment of section 194

- Act: The Finance Act, 1984
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1984/section/23/

## Text

Amendment of section 194. 23. In section 194 of the Income-tax Act, for the first proviso, the following proviso shall be substituted with effect from the 1st day of June, 1984, namely: — "Provided that no such deduction shall be made in the case, of a shareholder, being ah individual, who is resident in India, of a company in which the public are substantially interested, if— (a) the dividend is paid by such company by an account payee cheque;. and (b) the amount of such dividend or, as the case may be, the aggregate of the amounts of such. dividend distributed or paid or likely to be distributed or paid during the financial year by the company to the shareholder does not exceed one thousand rupees: ". [Finance Act, 1984] © Copyright. Taxmann Publications Pvt. Ltd.

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