Inter corporate dividend deduction: domestic companies may deduct a major portion of dividend income from taxable income. Where a domestic company's gross total income includes dividends from another domestic company, a deduction is allowed in computing total income equal to sixty per cent of such dividend income, effective from 1 April 1987.
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.
Inter corporate dividend deduction: domestic companies may deduct a major portion of dividend income from taxable income.
Where a domestic company's gross total income includes dividends from another domestic company, a deduction is allowed in computing total income equal to sixty per cent of such dividend income, effective from 1 April 1987.
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