Dividend deduction: amended Section 80M grants full deduction for certain manufacturing company dividends and partial deduction for others. Substituted subsection (1) of Section 80M provides that, for a domestic company whose gross total income includes dividends from another domestic company, a deduction is allowed: a full deduction for dividends from companies formed after 28 February 1975 engaged exclusively or almost exclusively in manufacture or production of specified Ninth Schedule items; and a sixty per cent deduction for dividends not falling within that manufacturing-company category.
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.
Dividend deduction: amended Section 80M grants full deduction for certain manufacturing company dividends and partial deduction for others.
Substituted subsection (1) of Section 80M provides that, for a domestic company whose gross total income includes dividends from another domestic company, a deduction is allowed: a full deduction for dividends from companies formed after 28 February 1975 engaged exclusively or almost exclusively in manufacture or production of specified Ninth Schedule items; and a sixty per cent deduction for dividends not falling within that manufacturing-company category.
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