Section 80L of the Income-tax Act, 1961--Admissibility of deduction in respect of income from units of the Unit Trust of India

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the Income-tax Act, 1961, was amended by the Finance Act, 1988, to provide that in computing the total income, any income by way of interest on deposits under the notified National Deposit Scheme or dividend received from any Indian company, in the aggregate and to the extent such income has not been allowed as a deduction under sub-section (1) or under the first proviso to sub-section (1), shall....