Exclusion of dividends: amendment narrows taxable 'income derived' to omit specified dividends, effective from the fiscal commencement. The amendment substitutes the phrase 'income derived' in clause (c) of section 115C with 'income derived other than dividends referred to in section 115-O', thereby excluding those dividends from the scope of clause (c) for tax purposes and taking effect from the commencement of the stated fiscal period.