Deductions for interest and dividends: specified investment receipts qualify for a capped deduction and coordinate with dividend relief. Substituted section 80-L allows a deduction for specified receipts-interest on government securities, notified debentures and deposits, dividends from Indian companies, Unit Trust income, bank deposit interest, and interest from approved financial corporations-by permitting full deduction where aggregate receipts do not exceed three thousand rupees and a flat deduction of three thousand rupees otherwise; dividend income eligible for deduction is first reduced by any deduction claimed under Section 80-K.
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.
Deductions for interest and dividends: specified investment receipts qualify for a capped deduction and coordinate with dividend relief.
Substituted section 80-L allows a deduction for specified receipts-interest on government securities, notified debentures and deposits, dividends from Indian companies, Unit Trust income, bank deposit interest, and interest from approved financial corporations-by permitting full deduction where aggregate receipts do not exceed three thousand rupees and a flat deduction of three thousand rupees otherwise; dividend income eligible for deduction is first reduced by any deduction claimed under Section 80-K.
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