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of <h1>Section 80M (2003-2004): Temporary allowance for domestic companies to deduct inter-corporate dividends subject to distribution timing</h1> Section 80M, originally inserted effective 01-04-2003 and omitted effective 01-04-2004, previously permitted a domestic company to deduct from its taxable income inter-corporate dividends received from another domestic company to the extent those dividends did not exceed the amount of dividends the recipient company itself distributed on or before the return filing due date; the deduction could be claimed only once for a particular distributed amount, and 'due date' was defined as the date for furnishing the income-tax return under the relevant provision.
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