Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Restriction on dividend deductions narrows allowable offsets, permitting only interest and imposing a capped limitation on other deductions. The amendment broadens the reference to dividends and inserts a proviso restricting deductions from dividend income and income from units of specified ... Summary
Restriction on dividend deductions narrows allowable offsets, permitting only interest and imposing a capped limitation on other deductions.
The amendment broadens the reference to dividends and inserts a proviso restricting deductions from dividend income and income from units of specified mutual funds and specified companies: only interest expense is explicitly allowable and other deductions are limited to a capped proportion of that income when included in total income.
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