Sec. 80M of income tax act

Dividend declared before 1/4/2020 by comp. X Ltd a domestic company and has paid on 1/9/2020.
1. whether DDT is payable by comp. X?
2. Whether comp. X will get deduction u/s 80M
Where dividend income for comp. X is 1000000 for FY 20-21.

3.whether your answer will change if dividend paid is on 1/5/21 and dividend income for comp x is 1000000 in FY 21-22.

Replies (1)
DDT has been abolished by FM in budget 20-21. A concessional rate of 20.56% tax is applicable.

80M deduction will be applicable

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