Inter-corporate dividend deduction allows domestic companies to deduct dividends distributed by them if paid by the due date. A domestic company may deduct from its total income dividends received from another domestic company, a foreign company or a business trust to the extent those dividends were distributed by the recipient on or before the defined due date (one month prior to the return filing date); once allowed in a previous year, the same distributed amount cannot be deducted in any other previous year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Inter-corporate dividend deduction allows domestic companies to deduct dividends distributed by them if paid by the due date.
A domestic company may deduct from its total income dividends received from another domestic company, a foreign company or a business trust to the extent those dividends were distributed by the recipient on or before the defined due date (one month prior to the return filing date); once allowed in a previous year, the same distributed amount cannot be deducted in any other previous year.
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