Section 13 - Amendment of Section 57 - Finance Act, 1976

13. Amendment of Section 57 In section 57 of the Income-tax Act, the following proviso and Explanation shall be inserted at the end, with effect from the 1st day of June, 1976, namely :- Provided that nothing contained in clause (i) or clause (iii) shall apply in computing the income by way of dividends in the case of an assessee, being a foreign company. Explanation : For the purposes of this section and section 58, foreign company shall have the same meaning as in section 80B. .