Inter corporate dividend deduction: domestic companies may deduct a major portion of dividend income from taxable income. Where a domestic company's gross total income includes dividends from another domestic company, a deduction is allowed in computing total income equal to ... Summary
Inter corporate dividend deduction: domestic companies may deduct a major portion of dividend income from taxable income.
Where a domestic company's gross total income includes dividends from another domestic company, a deduction is allowed in computing total income equal to sixty per cent of such dividend income, effective from 1 April 1987.
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