In section 104 of the Income-tax Act, with effect from the 1st day of April, 1974, -
(a) in sub-section (1), after the words "the amount of dividends actually distributed, if any", the words ",within the said period of twelve months" shall be inserted;
(b) in sub-section (2), in clauses (i) and (ii), after the words "the payment of a dividend or a large dividend than that declared", the words, brackets and figure "within the period of twelve months referred to in sub-section (1)" shall be inserted.