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of <h1>Finance Act 1965 Updates Dividend Regulations, Introduces Section 4A, Caps Tax Deductions on Preference Shares at 25%</h1> The Finance Act, 1965, amends the Preference Shares (Regulation of Dividends) Act, 1960, by updating references from the Indian Income-tax Act, 1922, to the Income-tax Act, 1961. Changes include modifications to definitions and clauses, such as substituting clause references and omitting certain conditions related to share issuance dates. The amendments specify that preference shares issued before April 1, 1960, are subject to particular rules. A new section, 4A, is introduced, limiting income-tax deductions from stipulated dividends on preference shares to a maximum of 25%. Additionally, specific sections are updated to reflect these changes.
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