https://www.taxtmi.com/acts?id=51516 Section 85B provided an entitlement for an Indian company receiving shares in a foreign company as consideration for patents, technical services or similar rights to claim a deduction from its income tax: the deduction equalled the income tax computed at the average rate on dividend income so included, insofar as that computed tax exceeded twenty five per cent of the dividend income. The provision was enacted in 1966 and later omitted in 1968. en-us Fri, 13 Jun 2025 12:54:08 +0530 Thu, 28 Aug 2025 13:14:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51516 Section 85B provided an entitlement for an Indian company receiving shares in a foreign company as consideration for patents, technical services or similar rights to claim a deduction from its income tax: the deduction equalled the income tax computed at the average rate on dividend income so included, insofar as that computed tax exceeded twenty five per cent of the dividend income. The provision was enacted in 1966 and later omitted in 1968. Act-Rules Income Tax Fri, 13 Jun 2025 12:54:08 +0530 https://www.taxtmi.com/acts?id=51516