Deduction entitlement for dividend income from UTI units reduced in stages and then removed for later years. The proviso to section 80M grants domestic companies a phased deduction for dividend income from units of the Unit Trust of India: a substantial portion is allowable in the first affected previous year, a reduced portion in the next previous year, and no deduction for subsequent previous years; effective from the first day of April following the Finance Act and subject to the other provisions of section 80M.
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.
Deduction entitlement for dividend income from UTI units reduced in stages and then removed for later years.
The proviso to section 80M grants domestic companies a phased deduction for dividend income from units of the Unit Trust of India: a substantial portion is allowable in the first affected previous year, a reduced portion in the next previous year, and no deduction for subsequent previous years; effective from the first day of April following the Finance Act and subject to the other provisions of section 80M.
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