Dividend tax treatment: specified domestic manufacturers' dividends fully exempt; other domestic and foreign company dividends partially taxable.

Amendment to Section 80M revises dividend treatment by recipient category and dividend source: dividends to domestic companies from companies engaged predominantly in manufacture or production of specified schedule items receive full entitlement, other domestic company dividends are subject to partial inclusion, and dividends received by foreign companies are subject to a separate partial inclusion under the substituted clauses.

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