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of <h1>Income-tax Act Section 104 amended: Dividends must be distributed within twelve months, effective April 1, 1974.</h1> Section 104 of the Income-tax Act is amended to specify that the distribution of dividends must occur within a twelve-month period. In sub-section (1), the phrase 'within the said period of twelve months' is added after 'the amount of dividends actually distributed, if any.' Similarly, in sub-section (2), clauses (i) and (ii) are modified to include 'within the period of twelve months referred to in sub-section (1)' after references to the payment of dividends. These changes take effect from April 1, 1974, as per the Finance Act, 1973.
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