Computation of deduction under section 80M: dividend income to be measured as income as computed rather than gross dividend amount. A previously enacted provision required that deductions under section 80M for dividend income be computed with reference to the income from such dividends as computed under the Act rather than by reference to the gross dividend amount. That provision, inserted by a finance enactment with retrospective application and later omitted by subsequent legislation with savings, changed the statutory basis for calculating dividend related deductions for the affected assessment years.