Section 54 - Amendment of section 203 - Finance Act, 1987

54. Amendment of section 203 In section 203 of the Income-tax Act, for the portion beginning with the words shall, at the time of credit and ending with the words dividend to a shareholder , the following shall be substituted with effect from the 1st day of June, 1987, namely :- shall, within such period as may be prescribed from the time of credit or payment of the sum, or, as the case may be, from the time of issue of a cheque or warrant for payment of any dividend to a shareholder .