Notwithstanding anything contained in this Act or any other law for the time being in force, if in an assessment year, the total amount transferred to retained earnings or any fund, reserve or surplus, by whatever name may be called, by a company registered under Companies Act, 1994 (Act No. XVIII of 1944) and listed to any stock exchange exceeds 70% (seventy percent) of the net income after tax of the preceding assessment year, tax shall be payable at the rate of 10% (ten percent) on the total amount so transferred in that assessment year.