https://www.taxtmi.com/acts?id=47323 Deduction for inter-corporate dividends under substituted section 80M allows domestic companies to deduct dividend income from other domestic companies subject to class-based limits: specified financial institutions receive a preferential proportionate deduction, while other domestic companies may deduct only up to the amount of dividend they distribute on or before the due date. The section bars repeated deductions for the same distributed amount, excludes dividends for prior periods, and defines key terms including scheduled bank, public financial institution, State financial corporations, and due date. en-us Fri, 10 Jan 2025 18:22:45 +0530 Fri, 10 Jan 2025 18:22:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47323 Deduction for inter-corporate dividends under substituted section 80M allows domestic companies to deduct dividend income from other domestic companies subject to class-based limits: specified financial institutions receive a preferential proportionate deduction, while other domestic companies may deduct only up to the amount of dividend they distribute on or before the due date. The section bars repeated deductions for the same distributed amount, excludes dividends for prior periods, and defines key terms including scheduled bank, public financial institution, State financial corporations, and due date. Act-Rules F. Acts / Amendment Acts Fri, 10 Jan 2025 18:22:45 +0530 https://www.taxtmi.com/acts?id=47323