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Deduction under section 80M

Others 251 views 1 replies

Ritik Chopra

student

8138 Points Posted on 05 May 2021

PQR Ltd., a domestic company, has distributed on 15.10.2020, dividend of ` 230 lakh to its shareholders. On 17.9.2020, PQR Ltd. has received dividend of ` 60 lakh from its domestic subsidiary company XYZ Ltd. What would be deduction under section 80M allowable to PQR Ltd?

Replies (1)

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 05 May 2021

The deduction available to domestic companies can be summarised as follows:
1)Amount of dividend received from domestic companies; or,

2)Amount of dividend distributed one month prior to the due date of filing return;
….whichever is lesser.

Deduction u/s 80M will be 60 lakhs rupees

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