Super-tax liability clarified: amendment shifts to payable-liability test and broadens dividend exclusion for company recipients.

The amendment rewords sub-section (1) of section 99: clause (i) changes the test from past payment to present liability by replacing "super-tax has already been paid by the firm" with "super-tax is payable by the firm"; clause (iv) is replaced to cover dividends received by a company from Indian companies or companies that have made prescribed arrangements for declaration and payment of dividends within India, including dividends on preference shares.

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