Section 5(6) in The Companies (Temporary Restrictions On Dividends) Act, 1974
(6)Where, after the commencement of the Companies (Temporary Restrictions on Dividends) Amendment Act, 1975 , a company to which, this Act applies declares dividend for any financial. year exceeding in the aggregate, its distributable profits for that financial year, the provisions of the Income- tax Act, 1961 , shall subject to the provisions of sub- section (10), apply in relation to the whole of the dividend so declared, as they apply in relation to dividend which is declared but payment of no part of which is deferred.
