Deduction for dividend income attributable to profits from specified undertakings allowed when company profits are tax exempt or deductible. Section 80K allowed a deduction from dividend income equal to the portion attributable to a company's profits from new industrial undertakings, ships, or ... Summary
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Deduction for dividend income attributable to profits from specified undertakings allowed when company profits are tax exempt or deductible.
Section 80K allowed a deduction from dividend income equal to the portion attributable to a company's profits from new industrial undertakings, ships, or hotel business where those profits were not taxed in the company or the company was entitled to a specified deduction, subject to Board rules for apportionment and statutory temporal exclusions.
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