https://www.taxtmi.com/article/detailed?id=8954 The draft s.80M restores a deduction intended to remove cascading dividend taxation but is drafted to permit any domestic company to deduct dividend income received from any other domestic company, limited only by dividends the deducting company distributed on or before the prescribed "due date" (defined as one month prior to the filing deadline), and prohibits double claim of the same distributed amount in another year; the draft omits any explicit holding-subsidiary limitation described in the Budget speech, creating a scope mismatch. en-us Thu, 13 Feb 2020 12:42:30 +0530 Thu, 13 Feb 2020 12:42:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8954 The draft s.80M restores a deduction intended to remove cascading dividend taxation but is drafted to permit any domestic company to deduct dividend income received from any other domestic company, limited only by dividends the deducting company distributed on or before the prescribed "due date" (defined as one month prior to the filing deadline), and prohibits double claim of the same distributed amount in another year; the draft omits any explicit holding-subsidiary limitation described in the Budget speech, creating a scope mismatch. Articles Income Tax Thu, 13 Feb 2020 12:42:30 +0530 https://www.taxtmi.com/article/detailed?id=8954