Section 80AA - Omitted - Income-tax Act, 1961

Computation of deduction under section 80M. 80AA. 1 [****] -------------------------------- Notes :- 1. Omitted by the Finance Act, 1997, w.e.f. 1-4-1998 Prior to its omission, section 80AA, as inserted by the Finance (No. 2) Act, 1980, w.r.e.f. 1-4-1968, subject to the savings prescribed in section 44 of the said Act, read as under : 80AA. Computation of deduction under section 80M.- Where any deduction is required to be allowed under section 80M in respect of any income by way of dividends from a domestic company which is included in the gross total income of the assessee, then, notwithstanding anything contained in that section, the deduction under that section shall be computed with reference to the income by way of such dividends as computed in accordance with the provisions of this Act (before making any deduction under this Chapter) and not with reference to the gross amount of such dividends.