30. Section 44A of the principal Act is amended by deleting subsection (4) and substituting the following subsection:
“(4) Notwithstanding anything in this Act, where the tax on any dividend paid by a company in the year 2007 has been deducted at the rate of 20% —
(a)
the amount of such dividend received by a shareholder shall be deemed to have been paid without deduction of tax and to be a dividend of such a gross amount as after deduction of tax at the rate of 18% would be equal to the net amount paid; and a sum equal to the difference between such gross amount and the net amount paid shall be deemed to have been deducted from the dividend as tax; and
(b)
the difference between the amount of tax deducted at 20% from such dividend and the amount deemed to have been so deducted under paragraph (a) shall be added to the 44A balance of the company and deemed to be a part thereof.”.