TaxTMI 
TaxTMI 
Omitted
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....ith and subject to the provisions of this section, to allowed, in computing the total income of the assessee, a deduction as specified hereunder, namely :- (i) in a case where the amount of such dividends does not exceed five hundred rupees, the whole of such amount; (ii) in any other case, five hundred rupees.] (2) In a case where the assessee is entitled also to the deduction under section 80K, in relation to the whole or any part of the income by way of dividends referred to in sub-section (1), the deduction under sub-section (1) shall be allowed in respect of such income as reduced by the deduction under section 80K.]" 4. Substituted vide Section 17 of the Finance (No. 2) Act, 1971 w.e.f. 01-04-1972 before it was read as, "Where the gross total income of an assessee includes any income by way of -" 5. Omitted vide Section 17 of the Finance (No. 2) Act, 1971 w.e.f. 01-04-1972 before it was read as, "or" 6. Substituted vide Section 17 of the Finance (No. 2) Act, 1971 w.e.f. 01-04-1972 before it was read as, "Section 36," 7. Inserted vide Section 17 of the Finance (No. 2) Act, 1971&n....
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.... 17. Substituted vide Section 15 of the Finance Act, 1984 w.e.f. 01-04-1985 before it was read as, "under any scheme" 18. Inserted vide Section 15 of the Finance Act, 1984 w.e.f. 01-04-1985 19. Substituted vide Section 21 of the Taxation Laws (Amendment) Act, 1984 w.e.f. 01-04-1972 before it was read as, "consisting only of" 20. Inserted vide Section 21 of the Taxation Laws (Amendment) Act, 1984 w.e.f. 01-04-1976 21. Substituted vide Section 20 of the Finance Act, 1986 w.e.f. 01-04-1987 before it was read as, "(ii) interest on such debentures, issued by any co-operative society (including a co-operative land mortgage bank or a co-operative land development bank) or any other institution or authority, as the Central Government may, by notification in the Official Gazette, specify in this behalf;" 22. Omitted vide Section 20 of the Finance Act, 1986 w.e.f. 01-04-1987 before it was read as, "(2) In a case where the assessee is entitled also to the deduction under Section 80-K in relation to the whole or any part of the income by way of dividends referred....
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....usand rupees : Provided further that where any income by way of interest on any deposits referred to in clause (iia) remains unallowed after the deduction under the foregoing provisions of this section, there shall be allowed in computing the total income of the assessee, an additional deduction of an amount equal to so much of such income as has remained unallowed; so, however, that the amount of such additional deduction shall not exceed two thousand rupees.]" 30. Inserted vide Section 9 of the Direct Tax Laws (Second Amendment) Act, 1989 w.e.f. 01-04-1984 31. Inserted vide Section 25 of the Finance Act, 1990 w.e.f. 01-04-1990 32. Substituted vide Section 33 of the Finance (No. 2) Act, 1991 w.e.f. 01-04-1992 before it was read as, "^30[(ia) interest on National Savings Certificates (VI Issue) and National Savings Certificates (VII Issue) issued under the Government Savings Certificates Act, 1959 (46 of 1959);]" 33. Omitted vide Section 48 of the Finance Act, 1992 w.e.f. 01-04-1993 before it was read as, "^29[Provided that where the gross total income of the assessee includes....
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....as, "^39[thirteen thousand]" 42. Inserted vide Section 30 of the Finance (No. 2) Act, 1996 w.e.f. 01-04-1997 43. Omitted vide Section 27 of the Finance Act, 1997 w.e.f. 01-04-1998 before it was read as, "(iv) dividends from any Indian company;" 44. Omitted vide Section 27 of the Finance Act, 1997 w.e.f. 01-04-1998 before it was read as, ", or dividend received from," 45. Substituted vide Section 27 of the Finance Act, 1997 w.e.f. 01-04-1998 before it was read as, "clause (iv)," 46. Omitted vide Section 52 of the Finance Act, 1999 w.e.f. 01-04-2000 before it was read as, "(v) income received in respect of units from the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963);" 47. Omitted vide Section 52 of the Finance Act, 1999 w.e.f. 01-04-2000 before it was read as, "^24[(va) income received in respect of units of a Mutual Fund specified under clause (23D) of section 10;]" 48. Omitted vide Section 52 of the Finance Act, 1999 w.e.f. 01-04-2000 before it was....
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....undivided family, ^36[****] (c) ^37[****] includes any income by way of -] (i) interest on any security of the Central Government or a State Government (not being interest payable under Section 280-D in respect of any annuity deposit made under Chapter XXII-A); ^32[(ia) interest on National Savings Certificates (VI Issue) or National Savings Certificates (VII Issue) or National Savings Certificates (VIII Issue) issued under the Government Savings Certificates Act, 1959 (46 of 1959);] (ii) ^23[****] ^16[(iia) interest on deposits under such National Deposit Scheme as may be framed by the Central Government and notified by it in this behalf in the Official Gazette;] (iii) interest on deposits ^17[under any other scheme] framed by the Central Government and notified by it in this behalf in the Official Gazette; ^25[(iiia) interest on deposits under the Post Office (Monthly Income Account) Rules, 1987;] ^56[****] (iv) ^43[****] (v) ^46[****] (va) ^47[****] (vi) interest on deposits with a banking company to which the Banking Regulation Act, 1949, (10 of 1949) applies (in....