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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income-tax Act Section 194 Amended: Clarifies Residency Status for Shareholder Payments Effective October 1, 1991.</h1> Section 194 of the Income-tax Act is amended effective October 1, 1991. The amendment involves inserting the words 'who is resident in India' after 'distribution or payment to shareholder,' and omitting the same words in the proviso. These changes clarify the residency status of shareholders affected by the distribution or payment provisions under this section.
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