Dividend exemption removed: earlier exemption for dividends from specified industrial undertakings and hotels is omitted. Section 85 of the Income-tax Act has been omitted. Previously it exempted from income-tax dividends paid or deemed paid to a shareholder by an industrial ... Summary
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Dividend exemption removed: earlier exemption for dividends from specified industrial undertakings and hotels is omitted.
Section 85 of the Income-tax Act has been omitted. Previously it exempted from income-tax dividends paid or deemed paid to a shareholder by an industrial undertaking or a hotel to which section 84 applied, to the extent those dividends were attributable to profits on which tax was not payable under section 84.
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